The Weir Group (LON:WEIR) Hits New 52-Week High – What’s Next?

The Weir Group PLC (LON:WEIR)’s stock price hit a new 52-week high during trading on Wednesday . The stock 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Shore Capital reissued a “hold” rating and set a GBX 2,750 price objective on shares of The Weir Group in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research report on Monday, January 12th. Peel Hunt reiterated a “buy” rating and set a GBX 3,000 target price on shares of The Weir Group in a research report on Wednesday, November 5th. Berenberg Bank increased 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, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 3,175 price objective on shares of The Weir Group in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, The Weir Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,186.43.

The Weir Group Price Performance

The firm has a market capitalization of £8.28 billion, a P/E ratio of 26.90, a PEG ratio of 2.59 and a beta of 1.41. The business’s 50-day simple moving average is GBX 2,881.37 and its 200 day simple moving average is GBX 2,742.64. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30.

Insider Buying and Selling at The Weir Group

In other The Weir Group news, insider Jon Stanton purchased 573 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was acquired at an average cost of GBX 2,874 per share, for a total transaction of £16,468.02. Also, insider Brian Puffer acquired 280 shares of The Weir Group stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of GBX 2,874 per share, for a total transaction of £8,047.20. 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.