The Weir Group (LON:WEIR) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• The Weir Group shares fell below their 200-day moving average, trading as low as GBX 2,608 and last changing hands at GBX 2,630, below the GBX 2,680.68 long-term average.
• Despite the technical weakness, analyst sentiment remains positive: eight analysts rate the stock a Buy and one rates it Hold, with a consensus target price of GBX 3,408.33.
• The company reported quarterly EPS of GBX 54.60, a 9.97% net margin and 13.45% return on equity. Two insiders also bought shares in July and August, suggesting some internal confidence in the stock.

Shares of The Weir Group PLC (LON:WEIR - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,680.68 and traded as low as GBX 2,608. The Weir Group shares last traded at GBX 2,630, with a volume of 674,861 shares trading hands.

Analyst Ratings Changes

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

The Weir Group Price Performance

The company has a market cap of £6.83 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. The company has a fifty day moving average price of GBX 2,655.44 and a two-hundred day moving average price of GBX 2,680.68. The company has a current ratio of 2.55, a quick ratio of 1.16 and a debt-to-equity ratio of 91.54.

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

Insider Buying and Selling at The Weir Group

In other The Weir Group news, insider Penelope Anne Freer purchased 900 shares of the stock in a transaction on Wednesday, July 29th. The shares were purchased at an average price of GBX 2,729 per share, with a total value of £24,561. Also, insider Nick Anderson acquired 1,470 shares of the company's stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of GBX 2,713 per share, with a total value of £39,881.10. Insiders own 0.73% of the company's stock.

The Weir Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.