Spirax-Sarco Engineering plc (LON:SPX) Receives Average Rating of “Reduce” from Brokerages

Spirax-Sarco Engineering plc (LON:SPX) has earned an average rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is GBX 8,672.50 ($112.47).

A number of research firms recently issued reports on SPX. Royal Bank of Canada reduced their price objective on Spirax-Sarco Engineering from GBX 8,000 ($103.75) to GBX 7,000 ($90.78) and set an “underperform” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group cut their price objective on shares of Spirax-Sarco Engineering from GBX 9,690 ($125.66) to GBX 9,580 ($124.24) and set a “hold” rating on the stock in a research report on Friday, July 12th. Berenberg Bank restated a “hold” rating and issued a GBX 8,150 ($105.69) target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, September 25th. Finally, Shore Capital reiterated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th.

Insiders Place Their Bets

In other news, insider Kevin J. Thompson purchased 640 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($99.27) per share, for a total transaction of £48,992 ($63,535.21). 0.73% of the stock is currently owned by insiders.

Spirax-Sarco Engineering Price Performance

Shares of LON:SPX opened at GBX 6,565 ($85.14) on Friday. The company has a market cap of £4.83 billion, a PE ratio of 2,525.00, a P/E/G ratio of 2.20 and a beta of 0.68. Spirax-Sarco Engineering has a fifty-two week low of GBX 6,420 ($83.26) and a fifty-two week high of £112.80 ($146.28). The firm has a 50-day simple moving average of GBX 7,177.28 and a 200 day simple moving average of GBX 8,239.65. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 98.81.

Spirax-Sarco Engineering Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be paid a dividend of GBX 47.50 ($0.62) per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a dividend yield of 0.56%. Spirax-Sarco Engineering’s dividend payout ratio is presently 6,230.77%.

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.