The Weir Group (LON:WEIR) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• The Weir Group’s shares briefly fell below their 200-day moving average of GBX 2,715.38, trading as low as GBX 2,714 before recovering to GBX 2,785.69.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy and one rates it Hold, with an average price target of GBX 3,408.33 versus the latest trading price.
• The company reported quarterly EPS of GBX 54.60, while insiders recently purchased shares; Weir has a £7.35 billion market capitalization and a 9.97% net margin.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,715.38 and traded as low as GBX 2,714. The Weir Group shares last traded at GBX 2,785.69, with a volume of 52,988,508 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEIR. Citigroup lifted their price objective on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 3,230 price target on shares of The Weir Group in a research note on Thursday, July 30th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 3,555 price objective on shares of The Weir Group in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on The Weir Group from GBX 3,500 to GBX 3,800 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 3,650 price target on shares of The Weir Group in a report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of GBX 3,408.33.

The Weir Group Stock Up 0.1%

The company has a quick ratio of 1.16, a current ratio of 2.55 and a debt-to-equity ratio of 91.54. The stock has a market cap of £7.35 billion, a PE ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 1.08. The business has a 50 day moving average price of GBX 2,630.45 and a 200 day moving average price of GBX 2,715.38.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported GBX 54.60 earnings per share for the quarter. The Weir Group had a return on equity of 13.45% and a net margin of 9.97%. Equities research analysts expect that The Weir Group PLC will post 136.0509554 EPS for the current fiscal year.

Insider Activity at The Weir Group

In other news, insider Penelope Anne Freer bought 900 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of GBX 2,729 per share, for a total transaction of £24,561. Also, insider Nick Anderson bought 1,470 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of GBX 2,713 per share, with a total value of £39,881.10. 0.73% of the stock is owned by insiders.

About The Weir Group

Founded in 1871, Weir is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology enables critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. Weir is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition.

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