Spirax-Sarco Engineering (LON:SPX) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Spirax-Sarco Engineering plc (LON:SPX) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 7,100.27 and traded as low as GBX 6,510. Spirax-Sarco Engineering shares last traded at GBX 6,650, with a volume of 200,999 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group reaffirmed a “buy” rating and set a £105 price target on shares of Spirax-Sarco Engineering in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

Spirax-Sarco Engineering Trading Up 1.0%

The company has a market cap of £4.91 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 83.78. The firm’s 50-day moving average price is GBX 6,877.70 and its 200-day moving average price is GBX 7,100.27.

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.