Spirax-Sarco Engineering (LON:SPX) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Spirax-Sarco Engineering plc (LON:SPX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 7,000.77 and traded as high as GBX 7,875. Spirax-Sarco Engineering shares last traded at GBX 7,875, with a volume of 180,160 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Peel Hunt restated a “buy” rating and issued a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Shore Capital Group restated a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft lifted 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. UBS Group upgraded shares of Spirax-Sarco Engineering to a “buy” rating and upped their price objective for the stock from GBX 7,500 to £105 in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. lifted 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 research report on Thursday, December 4th. Three analysts have rated the stock with a Buy rating and three have issued 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 Price Performance

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 has a market capitalization of £5.81 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The firm has a 50-day moving average price of GBX 7,132.42 and a 200 day moving average price of GBX 7,000.77.

About Spirax-Sarco Engineering

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.