Spirax Group (SPX)

Down
Share Price:
7,020.00p
Market Cap:
£5,183m
Change Today:
-115.00p
Sector:
Engineering

Shore Capital downgrades Spirax to 'sell' from 'hold'

By Michele Maatouk

Date: Friday 14 Feb 2025

LONDON (ShareCast) - (Sharecast News) - Shore Capital downgraded Spirax Group on Friday to 'sell' following a 20% share price rise since it upgraded to 'hold' shortly after the in line update on 14 November 2024.
The broker said that some structural threats, such as the impact of generative AI and lengthening replacement cycles, may be underestimated by investors.

It also said there are no clear catalysts for upgrades or a share price outperformance over the next 12 months.

"Clear evidence of improvements in the ETS division may not be seen until FY26F, whilst global industrial production growth forecasts for FY25F indicate limited risk to the upside for forecasts, in our view," it said.

The broker said that while a premium rating has previously been justified by the company's long-term earnings record - as opposed to IP or products with unique capabilities - recent trading and margin guidance has disappointed investors.

Shore said the FY25F PER of 26x (16x EV/EBITDA) appears stretched given the five-year earnings per share compound annual growth rate of 1.6%.

"The company's five-year EPS CAGR to FY24F is 1.6% with FY24F EPS consensus being downgraded by 34% cumulatively over the past two years with similar percentage downgrades to FY25F," it said.

At 0815 GMT, the shares were down 0.6% at 7,840p.

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

 

Spirax Group Market Data

Currency UK Pounds
Price 7,020.00p
Change Today -115.00p
52 Week High 7,960.00p
52 Week Low 6,300.00p
Volume 136,558
Shares Issued 73.83m
Market Cap £5,183m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. full sector star
Dividend Yield
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star