HSBC Reiterates Overweight Rating for Spirax-Sarco Engineering plc (SPX)
Spirax-Sarco Engineering plc (LON:SPX)‘s stock had its “overweight” rating restated by investment analysts at HSBC in a note issued to investors on Wednesday, American Banking News.com reports. They currently have a GBX 3,350 ($55.54) target price on the stock. HSBC’s price objective indicates a potential upside of 12.01% from the stock’s previous close.
Spirax-Sarco Engineering plc (LON:SPX) traded up 1.04% during mid-day trading on Wednesday, hitting GBX 2990.6821. The stock had a trading volume of 77,128 shares. Spirax-Sarco Engineering plc has a 1-year low of GBX 2521.385 and a 1-year high of GBX 3214.00. The stock’s 50-day moving average is GBX 2961.61 and its 200-day moving average is GBX 2932.. The company’s market cap is £2.250 billion.
The company also recently announced a dividend, which is scheduled for Friday, May 30th. Stockholders of record on Wednesday, April 30th will be paid a dividend of GBX 41 ($0.68) per share. This represents a dividend yield of 1.34%. The ex-dividend date is Wednesday, April 30th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Spirax-Sarco Engineering plc from GBX 3,150 ($52.22) to GBX 3,285 ($54.46) in a research note on Monday. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of Spirax-Sarco Engineering plc in a research note on Thursday, April 3rd. They set an “outperform” rating and a GBX 3,250 ($53.88) price target on the stock. Finally, analysts at Arden Partners Ltd downgraded shares of Spirax-Sarco Engineering plc to a “neutral” rating in a research note on Friday, March 28th. They now have a GBX 3,000 ($49.73) price target on the stock. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Spirax-Sarco Engineering plc currently has a consensus rating of “Hold” and a consensus target price of GBX 2,911.67 ($48.27).
Spirax-Sarco Engineering plc is a United Kingdom-based industrial engineering company specialising in steam and pump technology.
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