Spirax-Sarco Engineering (LON:SPX) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Spirax-Sarco Engineering plc (LON:SPX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,103.05 and traded as low as GBX 6,950. Spirax-Sarco Engineering shares last traded at GBX 6,950, with a volume of 142,573 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the company a “hold” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada boosted their target price on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research report on Wednesday, March 11th. UBS Group restated a “buy” rating and set a £105 target price on shares of Spirax-Sarco Engineering in a research report on Monday, May 11th. Shore Capital Group restated a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 10th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Price Performance

The firm’s 50-day moving average is GBX 7,064.60 and its 200-day moving average is GBX 7,103.05. The company has a debt-to-equity ratio of 83.78, a current ratio of 1.85 and a quick ratio of 1.73. The company has a market capitalization of £5.21 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.

Spirax-Sarco Engineering (LON:SPX) last announced its earnings results on Tuesday, March 10th. The company reported GBX 296.30 earnings per share (EPS) for the quarter. Spirax-Sarco Engineering had a net margin of 9.60% and a return on equity of 13.86%. Analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal year.

Insider Activity at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Louisa Burdet sold 671 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of GBX 6,655, for a total transaction of £44,655.05. Also, insider Nimesh Patel purchased 1,423 shares of the stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10. 0.61% of the stock is owned by insiders.

About Spirax-Sarco Engineering

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers’ problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers’ critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.