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

The Weir Group PLC (LON:WEIR) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,960.52 and traded as low as GBX 2,834. The Weir Group shares last traded at GBX 2,877.70, with a volume of 112,223,711 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEIR. Citigroup raised their price target on The Weir Group from GBX 3,300 to GBX 3,700 and gave the company a “buy” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft increased their price objective on The Weir Group from GBX 3,280 to GBX 3,723 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Shore Capital Group restated a “hold” rating on shares of The Weir Group in a research report on Wednesday, March 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a GBX 4,000 price target on shares of The Weir Group in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Weir Group from GBX 3,450 to GBX 3,800 and gave the company a “buy” rating in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 3,474.71.

The Weir Group Price Performance

The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.16 and a current ratio of 2.05. The stock has a market capitalization of £7.47 billion, a PE ratio of 24.26, a P/E/G ratio of 2.59 and a beta of 1.07. The company’s fifty day simple moving average is GBX 3,169.64 and its two-hundred day simple moving average is GBX 2,960.52.

The Weir Group (LON:WEIR) last announced its quarterly 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, sell-side analysts predict that The Weir Group PLC will post 136.0509554 EPS for the current year.

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.