Spirax-Sarco Engineering (LON:SPX) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Spirax-Sarco Engineering plc (LON:SPX)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 6,993.31 and traded as high as GBX 7,078.15. Spirax-Sarco Engineering shares last traded at GBX 7,050, with a volume of 160,863 shares.

Wall Street Analysts Forecast Growth

SPX has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 7,500 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, August 12th. Berenberg Bank reiterated a “hold” rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 8,740 target price on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 8,155.

Spirax-Sarco Engineering Stock Up 1.1%

The company has a market capitalization of £5.20 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 2.20 and a beta of 1.14. The company has a quick ratio of 1.73, a current ratio of 2.14 and a debt-to-equity ratio of 86.79. The firm has a 50 day moving average price of GBX 7,053.27 and a two-hundred day moving average price of GBX 6,993.31.

Spirax-Sarco Engineering (LON:SPX) last released its quarterly earnings results on Tuesday, August 11th. The company reported GBX 150 EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 16.03% and a net margin of 11.36%. As a group, sell-side analysts expect that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current year.

About Spirax-Sarco Engineering

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.