The Weir Group (LON:WEIR) Reaches New 52-Week High – Still a Buy?

Shares of The Weir Group PLC (LON:WEIR) hit a new 52-week high on Wednesday . The company traded as high as GBX 3,106 and last traded at GBX 3,104, with a volume of 1255602 shares changing hands. The stock had previously closed at GBX 3,080.

Analyst Ratings Changes

Several analysts recently weighed in on WEIR shares. Royal Bank Of Canada restated an “outperform” rating and set a GBX 3,175 price objective on shares of The Weir Group in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the company a “buy” rating in a research note on Monday, January 12th. Berenberg Bank upped their price objective on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Citigroup raised their target price on shares of The Weir Group from GBX 3,100 to GBX 3,300 and gave the company a “buy” rating in a research report on Thursday, November 6th. Six equities research 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 Weir Group presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,186.43.

The Weir Group Stock Performance

The company has a fifty day moving average price of GBX 2,870.08 and a two-hundred day moving average price of GBX 2,736.76. The company has a debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16. The company has a market capitalization of £8.06 billion, a P/E ratio of 26.19, a PEG ratio of 2.59 and a beta of 1.41.

Insider Buying and Selling at The Weir Group

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

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.