Spirax-Sarco Engineering (LON:SPX) had its target price lifted by Morgan Stanley from GBX 6,580 ($92.36) to GBX 6,600 ($92.64) in a research report sent to investors on Wednesday. Morgan Stanley currently has an overweight rating on the stock.
SPX has been the topic of several other reports. Royal Bank of Canada increased their target price on Spirax-Sarco Engineering from GBX 6,200 ($87.03) to GBX 6,500 ($91.24) and gave the stock an outperform rating in a research report on Friday, March 16th. Barclays increased their target price on Spirax-Sarco Engineering from GBX 6,100 ($85.63) to GBX 6,300 ($88.43) and gave the stock an equal weight rating in a research report on Friday, March 16th. Liberum Capital raised their price target on Spirax-Sarco Engineering from GBX 5,070 ($71.17) to GBX 5,700 ($80.01) and gave the company a hold rating in a report on Friday, January 12th. JPMorgan Chase lowered their price target on Spirax-Sarco Engineering from GBX 5,700 ($80.01) to GBX 5,500 ($77.20) and set a neutral rating on the stock in a report on Wednesday, February 14th. Finally, HSBC reissued a hold rating and set a GBX 6,300 ($88.43) price target on shares of Spirax-Sarco Engineering in a report on Wednesday, March 28th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of GBX 6,167.27 ($86.57).
Shares of LON SPX opened at GBX 5,645 ($79.24) on Wednesday. Spirax-Sarco Engineering has a 1-year low of GBX 4,681 ($65.71) and a 1-year high of GBX 6,155 ($86.40).
The firm also recently declared a dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, April 26th will be issued a dividend of GBX 62 ($0.87) per share. This represents a dividend yield of 1.04%. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $25.50. The ex-dividend date of this dividend is Thursday, April 26th.
In other news, insider Jane Kingston bought 1,500 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were purchased at an average cost of GBX 5,645 ($79.24) per share, with a total value of £84,675 ($118,858.79).
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About Spirax-Sarco Engineering
Spirax-Sarco Engineering plc is a United Kingdom-based industrial engineering company. The Company’s segments include Europe, Middle East & Africa; Asia Pacific; Americas; Steam specialties business, and Watson-Marlow Fluid Technology Group (Watson-Marlow). The Company’s businesses include Spirax Sarco and Watson-Marlow.
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