The Weir Group (LON:WEIR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

The Weir Group PLC (LON:WEIR)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,853.54 and traded as high as GBX 3,502. The Weir Group shares last traded at GBX 3,469.03, with a volume of 796,267 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WEIR shares. Citigroup raised their price objective on shares of The Weir Group from GBX 3,300 to GBX 3,700 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Peel Hunt reissued a “buy” rating and set a GBX 3,000 price target on shares of The Weir Group in a report on Wednesday, November 5th. Shore Capital Group reaffirmed a “hold” rating and issued a GBX 2,750 price objective on shares of The Weir Group in a report on Wednesday, November 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,175 price objective on shares of The Weir Group in a research report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 3,243.57.

The Weir Group Trading Up 0.3%

The company’s fifty day simple moving average is GBX 3,119.40 and its 200-day simple moving average is GBX 2,853.54. The firm has a market capitalization of £9.01 billion, a PE ratio of 29.25, a P/E/G ratio of 2.59 and a beta of 1.41. 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 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.