The Weir Group (LON:WEIR) Reaches New 1-Year High – What’s Next?

The Weir Group PLC (LON:WEIR)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 3,008 and last traded at GBX 3,004, with a volume of 1280972 shares trading hands. The stock had previously closed at GBX 2,950.

Wall Street Analyst Weigh In

WEIR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted 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. Peel Hunt reiterated a “buy” rating and issued a GBX 3,000 target price on shares of The Weir Group in a research note on Wednesday, November 5th. Citigroup raised 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 note on Thursday, November 6th. Berenberg Bank lifted their price target on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Shore Capital reiterated a “hold” rating and issued a GBX 2,750 price objective on shares of The Weir Group in a research note on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,147.86.

The Weir Group Stock Performance

The company has a market capitalization of £7.81 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.59 and a beta of 1.41. 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 company’s fifty day moving average is GBX 2,844.50 and its 200 day moving average is GBX 2,701.73.

Insiders Place Their Bets

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