The Weir Group (LON:WEIR) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of The Weir Group PLC (LON:WEIR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,663.16 and traded as high as GBX 2,886. The Weir Group shares last traded at GBX 2,866, with a volume of 986,955 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Peel Hunt reissued a “buy” rating and issued a GBX 3,000 price objective on shares of The Weir Group in a research note on Wednesday, November 5th. Shore Capital reiterated a “hold” rating and set a GBX 2,750 target price on shares of The Weir Group in a research report on Wednesday, November 5th. Berenberg Bank upped their price target on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the company a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Citigroup boosted their price target on shares of The Weir Group from GBX 3,100 to GBX 3,300 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,147.86.

The Weir Group Price Performance

The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 80.30. The business has a 50-day moving average of GBX 2,849.40 and a 200 day moving average of GBX 2,664.96. The firm has a market capitalization of £7.44 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41.

Insider Transactions at The Weir Group

In related news, insider Jon Stanton bought 573 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of GBX 2,874 per share, for a total transaction of £16,468.02. Also, insider Brian Puffer purchased 280 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of GBX 2,874 per share, with a total value of £8,047.20. Company insiders own 0.70% of the company’s stock.

The Weir Group Company Profile

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based Artificial Intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.