The Weir Group (LON:WEIR) Hits New 52-Week High – Time to Buy?

The Weir Group PLC (LON:WEIR)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 2,720 ($36.45) and last traded at GBX 2,708 ($36.29), with a volume of 1654181 shares traded. The stock had previously closed at GBX 2,638 ($35.35).

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEIR. Citigroup reiterated a “buy” rating and set a GBX 3,100 price objective on shares of The Weir Group in a report on Monday, August 4th. Shore Capital cut The Weir Group to a “hold” rating and set a GBX 2,750 price target for the company. in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a “buy” rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 2,772.

The Weir Group Stock Up 2.6%

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 50 day simple moving average of GBX 2,552.86 and a 200 day simple moving average of GBX 2,434.67. The stock has a market cap of £7.03 billion, a price-to-earnings ratio of 2,283.13, a PEG ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR) last announced its quarterly earnings data on Thursday, July 31st. The company reported GBX 58.70 EPS for the quarter. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%. As a group, analysts expect that The Weir Group PLC will post 136.0509554 earnings per share for the current fiscal year.

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.