The Weir Group (LON:WEIR) Reaches New 12-Month High – What’s Next?

The Weir Group PLC (LON:WEIR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 3,400 and last traded at GBX 3,374, with a volume of 1487511 shares changing hands. The stock had previously closed at GBX 3,354.

Wall Street Analysts Forecast Growth

WEIR has been the topic of a number of analyst reports. Citigroup upped their price target on 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. Berenberg Bank lifted their price objective on The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a research note on Monday, November 10th. Shore Capital reissued 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. Peel Hunt restated a “buy” rating and issued a GBX 3,000 price target on shares of The Weir Group in a research report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased 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. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 3,186.43.

The Weir Group Trading Up 0.8%

The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30. The stock has a market capitalization of £8.78 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.59 and a beta of 1.41. The firm’s 50 day simple moving average is GBX 2,962 and its two-hundred day simple moving average is GBX 2,781.84.

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.