Spirax-Sarco Engineering (LON:SPX) Sets New 12-Month Low at $7,190.00

Spirax-Sarco Engineering plc (LON:SPX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 7,190 ($94.98) and last traded at GBX 7,201.98 ($95.14), with a volume of 60463 shares trading hands. The stock had previously closed at GBX 7,375 ($97.42).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Friday, August 30th. Berenberg Bank cut their price objective on shares of Spirax-Sarco Engineering from GBX 9,800 ($129.46) to GBX 8,150 ($107.66) and set a “hold” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group dropped their price target on shares of Spirax-Sarco Engineering from GBX 9,690 ($128.01) to GBX 9,580 ($126.55) and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada lowered their price objective on Spirax-Sarco Engineering from GBX 8,000 ($105.68) to GBX 7,000 ($92.47) and set an “underperform” rating on the stock in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 9,158 ($120.98).

Spirax-Sarco Engineering Stock Down 2.5 %

The firm has a 50 day moving average of GBX 8,085.92 and a two-hundred day moving average of GBX 8,952.78. The stock has a market capitalization of £5.29 billion, a PE ratio of 2,794.23, a P/E/G ratio of 2.34 and a beta of 0.68. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81.

Spirax-Sarco Engineering Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a dividend of GBX 47.50 ($0.63) per share. This represents a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, October 17th. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is presently 6,230.77%.

Insider Buying and Selling

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson bought 640 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of GBX 7,655 ($101.12) per share, for a total transaction of £48,992 ($64,718.63). Insiders own 0.73% of the company’s stock.

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.