Insider Selling: Spirax-Sarco Engineering (LON:SPX) Insider Sells £53,506.20 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel sold 804 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of GBX 6,655, for a total transaction of £53,506.20.

Nimesh Patel also recently made the following trade(s):

• On Tuesday, March 10th, Nimesh Patel purchased 1,423 shares of Spirax-Sarco Engineering stock. The shares were purchased at an average cost of GBX 7,370 per share, with a total value of £104,875.10.
• On Thursday, February 5th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The shares were purchased at an average cost of GBX 7,375 per share, for a total transaction of £147.50.
• On Monday, January 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average price of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Stock Performance

LON:SPX opened at GBX 6,395 on Friday. The firm has a 50-day moving average of GBX 7,346.10 and a two-hundred day moving average of GBX 7,066.26. 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 stock has a market cap of £4.73 billion, a P/E ratio of 29.05, a PEG ratio of 2.20 and a beta of 1.13. Spirax-Sarco Engineering plc has a 1-year low of GBX 5,380 and a 1-year high of GBX 8,050.

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 return on equity of 13.86% and a net margin of 9.60%. On average, research analysts expect that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPX has been the topic of a number of recent analyst reports. Shore Capital Group reaffirmed a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 10th. Royal Bank Of Canada raised their price target on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an “underperform” rating in a research report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their price target on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Stifel Nicolaus upped 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. Finally, Berenberg Bank reiterated 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. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of GBX 8,012.50.

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.