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

The Weir Group PLC (LON:WEIR) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,943.73 and traded as low as GBX 2,796. The Weir Group shares last traded at GBX 2,862, with a volume of 2,261,437 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Shore Capital Group restated a “hold” rating on shares of The Weir Group in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft lifted their target price on The Weir Group from GBX 3,280 to GBX 3,723 and gave the company a “buy” rating in a report on Thursday, March 5th. Citigroup boosted their price target on The Weir Group from GBX 3,300 to GBX 3,700 and gave the company a “buy” rating in a research report on Thursday, February 5th. Royal Bank Of Canada restated 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 The Weir Group from GBX 3,450 to GBX 3,800 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,474.71.

The Weir Group Stock Performance

The company has a debt-to-equity ratio of 93.56, a current ratio of 2.05 and a quick ratio of 1.16. The stock has a fifty day moving average price of GBX 3,230.38 and a two-hundred day moving average price of GBX 2,943.73. The company has a market cap of £7.43 billion, a P/E ratio of 24.13, a PEG ratio of 2.59 and a beta of 1.07.

The Weir Group (LON:WEIR) last released its quarterly earnings results on Wednesday, March 4th. The company reported GBX 123.80 EPS for the quarter. The Weir Group had a net margin of 9.63% and a return on equity of 13.42%. On average, equities analysts forecast that The Weir Group PLC will post 136.0509554 earnings per share for the current fiscal 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.