Spirax-Sarco Engineering (LON:SPX) Sets New 1-Year Low at $7,190.00

Spirax-Sarco Engineering plc (LON:SPX)’s stock price hit a new 52-week low during trading on Wednesday . The stock 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).

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. 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. Berenberg Bank dropped their price objective on Spirax-Sarco Engineering from GBX 9,800 ($129.46) to GBX 8,150 ($107.66) and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada cut their price target on shares of 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 9,158 ($120.98).

Spirax-Sarco Engineering Price Performance

The company has a 50-day simple moving average of GBX 8,085.92 and a two-hundred day simple moving average of GBX 8,952.78. The stock has a market capitalization of £5.29 billion, a price-to-earnings ratio of 2,794.23, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The company has a debt-to-equity ratio of 98.81, a current ratio of 2.26 and a quick ratio of 1.73.

Spirax-Sarco Engineering Cuts Dividend

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

Insider Transactions at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson bought 640 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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.