Spirax-Sarco Engineering (SPX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Spirax-Sarco Engineering (LON:SPX) have received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is GBX 6,167.27 ($88.31).

A number of equities analysts recently issued reports on SPX shares. Morgan Stanley raised shares of Spirax-Sarco Engineering to an “overweight” rating and boosted their target price for the stock from GBX 6,100 ($87.34) to GBX 6,410 ($91.78) in a research report on Tuesday, February 27th. Numis Securities raised shares of Spirax-Sarco Engineering to an “add” rating and set a GBX 6,350 ($90.92) target price on the stock in a research report on Friday, March 16th. JPMorgan Chase dropped their target price on shares of Spirax-Sarco Engineering from GBX 5,700 ($81.62) to GBX 5,500 ($78.75) and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Barclays boosted their target price on shares of Spirax-Sarco Engineering from GBX 6,100 ($87.34) to GBX 6,300 ($90.21) and gave the stock an “equal weight” rating in a research report on Friday, March 16th. Finally, HSBC reaffirmed a “hold” rating and set a GBX 6,300 ($90.21) target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 28th.

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In other Spirax-Sarco Engineering news, insider Jane Kingston purchased 1,500 shares of the stock in a transaction on Wednesday, April 4th. The shares were purchased at an average price of GBX 5,645 ($80.83) per share, with a total value of £84,675 ($121,241.41).

SPX stock traded up GBX 50 ($0.72) on Thursday, reaching GBX 5,775 ($82.69). 80,956 shares of the company were exchanged, compared to its average volume of 143,754. Spirax-Sarco Engineering has a 12 month low of GBX 4,681 ($67.02) and a 12 month high of GBX 6,155 ($88.13).

The firm also recently declared a dividend, which will be paid on Friday, May 25th. Shareholders of record on Thursday, April 26th will be issued a GBX 62 ($0.89) dividend. This represents a yield of 1.04%. The ex-dividend date is Thursday, April 26th. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $25.50.

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About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions for the design, maintenance, and provision of industrial and commercial steam systems. It offers condensate management products, such as steam traps, condensate return pumps, and isolation valves; controls, including automatic control valves, pressure regulators, and temperature controls; and energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.

Analyst Recommendations for Spirax-Sarco Engineering (LON:SPX)

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