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

The Weir Group PLC (LON:WEIR) hit a new 52-week high during mid-day trading 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. The stock had previously closed at GBX 2,176 ($27.35).

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WEIR shares. Shore Capital reiterated a “buy” rating on shares of The Weir Group in a research note on Tuesday, August 20th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. upped 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. Finally, Berenberg Bank dropped 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 for the company in a research report on Tuesday, August 6th.

The Weir Group Trading Down 0.4 %

The firm has a market cap of £5.62 billion, a PE ratio of 2,555.29, a P/E/G 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. The company’s 50 day moving average price is GBX 2,136.97 and its two-hundred day moving average price is GBX 2,053.28.

Insider Activity

In other The Weir Group news, insider Nick Anderson bought 3,100 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of GBX 1,959 ($24.63) per share, for a total transaction of £60,729 ($76,340.67). Insiders own 0.31% of the company’s stock.

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.