Spirax-Sarco Engineering (LON:SPX) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Spirax-Sarco Engineering plc (LON:SPX)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 7,111.99 and traded as low as GBX 6,500. Spirax-Sarco Engineering shares last traded at GBX 6,510, with a volume of 169,431 shares.

Analyst Upgrades and Downgrades

SPX has been the topic of several analyst reports. Royal Bank Of Canada increased their target price on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an “underperform” rating in a report on Wednesday, March 11th. Stifel Nicolaus boosted their price target on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the company a “hold” rating in a report on Wednesday, March 11th. UBS Group restated a “buy” rating and issued a £105 price objective on shares of Spirax-Sarco Engineering in a research report on Monday, May 11th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 7,350 price objective on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 11th. Finally, Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Spirax-Sarco Engineering currently has an average rating of “Hold” and an average price target of GBX 8,012.50.

Spirax-Sarco Engineering Stock Down 1.6%

The company has a debt-to-equity ratio of 83.78, a quick ratio of 1.73 and a current ratio of 1.85. The firm’s fifty day simple moving average is GBX 6,975.36 and its 200 day simple moving average is GBX 7,111.99. The stock has a market capitalization of £4.73 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 2.20 and a beta of 1.15.

Spirax-Sarco Engineering Company Profile

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.