The Weir Group (LON:WEIR) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

The Weir Group PLC (LON:WEIR)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,781.84 and traded as high as GBX 3,354. The Weir Group shares last traded at GBX 3,314, with a volume of 681,005 shares traded.

Analyst Ratings Changes

WEIR has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 3,175 price objective on shares of The Weir Group in a report on Thursday, November 6th. Berenberg Bank upped their target price on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a report on Monday, November 10th. Shore Capital reaffirmed a “hold” rating and issued a GBX 2,750 price target on shares of The Weir Group in a research report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a report on Monday, January 12th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, The Weir Group has a consensus rating of “Moderate Buy” and an average target price of GBX 3,186.43.

The Weir Group Trading Up 0.4%

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 company has a market capitalization of £8.74 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The firm has a fifty day moving average price of GBX 2,962 and a 200-day moving average price of 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.