Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

12,700.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 17,135.00
  • 52 Week Low: 10,710.00
  • Currency: UK Pounds
  • Shares Issued: 73.77m
  • Volume: 139,957
  • Market Cap: £9,368m
  • RiskGrade: 124
  • Beta: 0.03

Numis downgrades TI Fluid Systems, Spirax-Sarco

By Michele Maatouk

Date: Thursday 08 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Numis downgraded TI Fluid Systems to 'add' from 'buy' on Thursday, while Spirax-Sarco Engineering was cut to 'hold' from 'add' as it took a look at the capital goods sector.

On TI Fluid, it said: "Although we see longer-term outperformance versus global light vehicle production, as the group continues to win content on new electric vehicle platforms, we see near-term risk to forecasts due to volatility in light vehicle production."

Numis cut its price target on the shares to 350p from 370p and reduced its FY2021 and FY2022 earnings per share forecasts by 11% and 7%, respectively. The broker noted that the shares are up more than 30% year-to-date and almost 70% from the beginning of November and said they are now largely discounting the post-pandemic recovery.

In the same note, it attributed its downgrade of Spirax-Sarco purely to valuation and the recent strong performance, as it maintained its 14,000p price target.

"We anticipate a robust first half performance, driven by the sharp rebound in global industrial production activity and strong demand for Watson-Marlow from the BioPharm sector," it said. "We are also confident that the group has successfully navigated the global supply chain disruption and input cost inflation."

Numis lifted its price target on add-rated Spectris to 3,700p from 3,410p, reflecting increased confidence in the group's gearing to recovery.

The broker upped its price target on hold-rated Morgan Advanced Materials to 370p from 350p to 370p, "reflecting the movement in the sector average rating".

Numis said its key picks in the sector centre on companies it feels are well-placed to deliver further earnings growth, at an attractive price: Hill & Smith, Melrose, Qinetiq and Vesuvius. It has buy ratings on all of them and price targets of 1,800p, 205p, 405p and 700p, respectively.

At 1255 BST, TI Fluid shares were down 6% at 295.86p and Spirax shares were 1.4% lower at 13,873.60p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SPX Market Data

Currency UK Pounds
Share Price 12,700.00p
Change Today 10.00p
% Change 0.08 %
52 Week High 17,135.00
52 Week Low 10,710.00
Volume 139,957
Shares Issued 73.77m
Market Cap £9,368m
Beta 0.03
RiskGrade 124

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.97% below the market average90.97% below the market average90.97% below the market average90.97% below the market average90.97% below the market average
93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average
Price Trend
26.20% above the market average26.20% above the market average26.20% above the market average26.20% above the market average26.20% above the market average
5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average
Income
93.16% below the market average93.16% below the market average93.16% below the market average93.16% below the market average93.16% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Growth
12.37% above the market average12.37% above the market average12.37% above the market average12.37% above the market average12.37% above the market average
81.25% above the sector average81.25% above the sector average81.25% above the sector average81.25% above the sector average81.25% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 10
Sell 1
Strong Sell 3
Total 15
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SPX Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Oct-21 22-Apr-21
Paid 12-Nov-21 21-May-21
Amount 38.50p 84.50p

Trades for 25-Jan-2022

Time Volume / Share Price
16:45 4 @ 12,730.00p
16:45 4 @ 12,730.00p
16:35 73,471 @ 12,700.00p
16:29 4 @ 12,730.00p
16:29 3 @ 12,730.00p

SPX Key Personnel

CEO Nicholas John Anderson
Chair Jamie Pike

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