Citigroup Reaffirms Buy Rating for Spirax-Sarco Engineering (LON:SPX)

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “buy” rating reiterated by Citigroup in a research note issued to investors on Wednesday,Digital Look reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Spirax-Sarco Engineering from GBX 7,800 ($100.98) to GBX 7,700 ($99.69) and set a “neutral” rating for the company in a research note on Wednesday. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Spirax-Sarco Engineering has a consensus rating of “Hold” and an average target price of GBX 8,478 ($109.76).

Spirax-Sarco Engineering Stock Performance

Shares of Spirax-Sarco Engineering stock traded up GBX 355 ($4.60) during trading hours on Wednesday, hitting GBX 7,105 ($91.99). 661,270 shares of the company were exchanged, compared to its average volume of 1,531,961. The company has a current ratio of 2.25, a quick ratio of 1.73 and a debt-to-equity ratio of 98.85. The business has a 50-day moving average of GBX 7,383.68 and a 200-day moving average of GBX 7,179.08. Spirax-Sarco Engineering has a 1 year low of GBX 6,350 ($82.21) and a 1 year high of £107.70 ($139.44). The stock has a market capitalization of £5.23 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 2.20 and a beta of 0.68.

Spirax-Sarco Engineering (LON:SPX) last issued its earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.71) earnings per share (EPS) for the quarter. Spirax-Sarco Engineering had a return on equity of 16.58% and a net margin of 11.57%. As a group, analysts expect that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today.