Spectris (LON:SXS) Shares Up 9.4% – Here’s Why

Spectris plc (LON:SXS)’s stock price rose 9.4% on Thursday . The stock traded as high as GBX 3,114.76 ($38.89) and last traded at GBX 2,955.14 ($36.90). Approximately 472,541 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 829,068 shares. The stock had previously closed at GBX 2,700 ($33.71).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “buy” rating on shares of Spectris in a research report on Thursday. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 4,707.50 ($58.78).

Spectris Stock Performance

The company has a debt-to-equity ratio of 4.37, a current ratio of 2.36 and a quick ratio of 1.03. The stock has a market cap of £2.92 billion, a P/E ratio of 1,100.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.61. The company has a 50 day simple moving average of GBX 2,552.34 and a 200-day simple moving average of GBX 2,704.91.

Insiders Place Their Bets

In other Spectris news, insider Alison Henwood bought 19 shares of Spectris stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of GBX 2,599 ($32.45) per share, with a total value of £493.81 ($616.57). Also, insider Mark Williamson purchased 12,116 shares of the stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of GBX 2,476 ($30.92) per share, with a total value of £299,992.16 ($374,568.81). Insiders bought a total of 14,553 shares of company stock valued at $36,045,861 over the last quarter. 1.21% of the stock is owned by corporate insiders.

About Spectris

The experts in providing insight through precision measurement.

Our purpose is to deliver value beyond measure – going beyond just the measurement.

Precision is at the heart of what we do. Spectris provides global customers with specialist insight through our high-tech instruments and test equipment, augmented by the power of our software.

Through a combination of our hardware, analytical and simulation software, we provide our customers with superior data and invaluable insights that enable them to work faster, smarter and more efficiently.

This equips them with the ability to reduce time to market, improve processes, quality and yield.