Spirax-Sarco Engineering (LON:SPX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Spirax-Sarco Engineering plc (LON:SPX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 6,676.82 and traded as high as GBX 6,800. Spirax-Sarco Engineering shares last traded at GBX 6,775, with a volume of 28,949 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPX shares. Peel Hunt restated a “buy” rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Shore Capital reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a report on Thursday, December 4th. UBS Group upgraded shares of Spirax-Sarco Engineering to a “buy” rating and increased their target price for the stock from GBX 7,500 to £105 in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 8,540.

Spirax-Sarco Engineering Stock Performance

The company has a market cap of £4.99 billion, a PE ratio of 30.78, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 98.85, a quick ratio of 1.73 and a current ratio of 2.25. The stock’s 50-day simple moving average is GBX 6,872.40 and its 200 day simple moving average is GBX 6,676.82.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.