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

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 2,838.11 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 trading hands.

Analyst Ratings Changes

WEIR has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,705 price objective on shares of The Weir Group in a report on Thursday, April 30th. Panmure Gordon upgraded The Weir Group to a “buy” rating and set a GBX 3,490 price target for the company in a research report on Friday, May 1st. Citigroup cut The Weir Group to a “buy” rating in a research note on Friday, July 10th. Shore Capital Group reissued a “hold” rating on shares of The Weir Group in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 3,452.

The Weir Group Trading Down 1.3%

The business has a 50 day simple moving average of GBX 2,425.95 and a 200-day simple moving average of GBX 2,838.11. 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 £6.36 billion, a P/E 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.