Spirax-Sarco Engineering plc (LON:SPX – Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 6,850 ($89.45) and last traded at GBX 6,855 ($89.51), with a volume of 401732 shares. The stock had previously closed at GBX 6,925 ($90.43).
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on SPX shares. Royal Bank of Canada lowered their price objective on Spirax-Sarco Engineering from GBX 8,000 ($104.47) to GBX 7,000 ($91.41) and set an “underperform” rating on the stock in a report on Thursday, August 15th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 8,150 ($106.42) price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th. Jefferies Financial Group cut their price objective on Spirax-Sarco Engineering from GBX 9,690 ($126.53) to GBX 9,580 ($125.10) and set a “hold” rating for the company in a research report on Friday, July 12th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 8,672.50 ($113.25).
Read Our Latest Stock Report on Spirax-Sarco Engineering
Spirax-Sarco Engineering Stock Performance
Spirax-Sarco Engineering Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be paid a GBX 47.50 ($0.62) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a yield of 0.56%. Spirax-Sarco Engineering’s payout ratio is 6,230.77%.
Insiders Place Their Bets
In other Spirax-Sarco Engineering news, insider Kevin J. Thompson purchased 640 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of GBX 7,655 ($99.96) per share, for a total transaction of £48,992 ($63,974.93). 0.73% of the stock is currently owned by company insiders.
Spirax-Sarco Engineering Company Profile
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.
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