The Weir Group (LON:WEIR) Shares Pass Below 200-Day Moving Average – Time to Sell?

The Weir Group PLC (LON:WEIR)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,838.11 and traded as low as GBX 2,448. The Weir Group shares last traded at GBX 2,450.88, with a volume of 1,171,795 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WEIR shares. Jefferies Financial Group restated a “buy” rating and set a GBX 3,705 price objective on shares of The Weir Group in a research report on Thursday, April 30th. Citigroup downgraded shares of The Weir Group to a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on shares of The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Shore Capital Group restated a “hold” rating on shares of The Weir Group in a report on Thursday, April 30th. Finally, Panmure Gordon upgraded shares of The Weir Group to a “buy” rating and set a GBX 3,490 price target on the stock in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, The Weir Group has a consensus rating of “Moderate Buy” and an average target price of GBX 3,452.

The Weir Group Stock Down 1.3%

The business’s 50 day simple moving average is GBX 2,425.95 and its 200 day simple moving average is GBX 2,838.11. 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 company has a market capitalization of £6.36 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07.

About The Weir Group

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.