Spirax-Sarco Engineering (LON:SPX) Price Target Lowered to GBX 7,000 at Royal Bank of Canada

Spirax-Sarco Engineering (LON:SPX) had its target price lowered by investment analysts at Royal Bank of Canada from GBX 8,000 ($102.15) to GBX 7,000 ($89.38) in a report released on Thursday, Marketbeat Ratings reports. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential downside of 7.53% from the stock’s current price.

Several other equities research analysts have also issued reports on SPX. Jefferies Financial Group lowered their target price on shares of Spirax-Sarco Engineering from GBX 9,690 ($123.72) to GBX 9,580 ($122.32) and set a “hold” rating on the stock in a research note on Friday, July 12th. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, May 15th. Finally, Berenberg Bank dropped their price objective on Spirax-Sarco Engineering from GBX 9,800 ($125.13) to GBX 8,150 ($104.06) and set a “hold” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of GBX 9,158 ($116.93).

Spirax-Sarco Engineering Trading Down 0.1 %

Shares of LON:SPX opened at GBX 7,570 ($96.65) on Thursday. The business has a 50 day moving average of GBX 8,520.37 and a two-hundred day moving average of GBX 9,317.19. Spirax-Sarco Engineering has a 12-month low of GBX 7,430 ($94.87) and a 12-month high of £112.80 ($144.02). The company has a market capitalization of £5.57 billion, a PE ratio of 2,911.54, a PEG ratio of 2.66 and a beta of 0.72. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81.

Insider Activity at Spirax-Sarco Engineering

In related news, insider Kevin J. Thompson bought 640 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of GBX 7,655 ($97.74) per share, for a total transaction of £48,992 ($62,553.63). 0.79% of the stock is owned by corporate insiders.

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.