Spirax-Sarco Engineering (LON:SPX) Sets New 12-Month High – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 7,970 and last traded at GBX 7,940, with a volume of 589522 shares. The stock had previously closed at GBX 7,820.

Analysts Set New Price Targets

Several research firms recently issued reports on SPX. JPMorgan Chase & Co. increased 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 report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft upped their target price on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Shore Capital Group reiterated a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Peel Hunt restated a “buy” rating and set a GBX 8,500 price objective on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Finally, UBS Group raised Spirax-Sarco Engineering to a “buy” rating and raised their price objective for the company from GBX 7,500 to £105 in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Spirax-Sarco Engineering presently has an average rating of “Moderate Buy” and an average target price of GBX 8,540.

Spirax-Sarco Engineering Stock Down 0.8%

The firm has a 50-day simple moving average of GBX 7,059.31 and a 200 day simple moving average of GBX 6,954.17. The stock has a market capitalization of £5.69 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 98.85, a current ratio of 2.25 and a quick ratio of 1.73.

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.