The Weir Group (LON:WEIR) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

The Weir Group PLC (LON:WEIR) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,940.19 and traded as low as GBX 2,364. The Weir Group shares last traded at GBX 2,375.60, with a volume of 1,300,491 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WEIR shares. Panmure Gordon raised shares of The Weir Group to a “buy” rating and set a GBX 3,490 price objective on the stock in a research report on Friday, May 1st. Shore Capital Group reissued a “hold” rating on shares of The Weir Group in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of The Weir Group from GBX 3,450 to GBX 3,800 and gave the company a “buy” rating in a research report on Thursday, March 5th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,705 price target on shares of The Weir Group in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Weir Group from GBX 3,280 to GBX 3,723 and gave the company a “buy” rating in a research report on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,452.

The Weir Group Price Performance

The stock’s 50-day moving average is GBX 2,742.75 and its 200-day moving average is GBX 2,940.19. The firm has a market cap of £6.17 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 2.05 and a debt-to-equity ratio of 93.56.

The Weir Group (LON:WEIR) last announced its earnings results on Wednesday, March 4th. The company reported GBX 123.80 earnings per share (EPS) for the quarter. The Weir Group had a net margin of 9.63% and a return on equity of 13.42%. As a group, equities analysts anticipate that The Weir Group PLC will post 136.0509554 EPS for the current fiscal year.

Insider Transactions at The Weir Group

In related news, insider Jon Stanton sold 25,580 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Company insiders own 0.70% of the company’s stock.

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.