The Weir Group (LON:WEIR) Sets New 52-Week High – Here’s Why

Shares of The Weir Group PLC (LON:WEIR) hit a new 52-week high on Monday . The stock traded as high as GBX 2,226 ($27.98) and last traded at GBX 2,220 ($27.91), with a volume of 614145 shares traded. The stock had previously closed at GBX 2,176 ($27.35).

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WEIR. Shore Capital reaffirmed a “buy” rating on shares of The Weir Group in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on shares of The Weir Group from GBX 2,075 ($26.08) to GBX 2,300 ($28.91) and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of The Weir Group from GBX 2,475 ($31.11) to GBX 2,500 ($31.43) and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank reduced their target price on shares of The Weir Group from GBX 2,600 ($32.68) to GBX 2,450 ($30.80) and set a “buy” rating on the stock in a report on Tuesday, August 6th.

The Weir Group Trading Down 0.4 %

The company’s fifty day moving average is GBX 2,136.97 and its two-hundred day moving average is GBX 2,053.28. The stock has a market cap of £5.62 billion, a price-to-earnings ratio of 2,555.29, a PEG ratio of 2.59 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 79.85.

Insiders Place Their Bets

In related news, insider Nick Anderson acquired 3,100 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of GBX 1,959 ($24.63) per share, with a total value of £60,729 ($76,340.67). 0.31% of the stock is owned by corporate insiders.

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.