The Weir Group (LON:WEIR) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• The Weir Group shares rose above their 200-day moving average, reaching GBX 2,940 before last trading at GBX 2,910, up 1.1% on the day.
• 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.
• The company reported quarterly EPS of GBX 54.60, while two insiders purchased shares totaling approximately £64,442 in late July and August.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,762.37 and traded as high as GBX 2,940. The Weir Group shares last traded at GBX 2,910, with a volume of 1,248,181 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on WEIR shares. Citigroup upped their target price on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the company a "buy" rating in a research note on Thursday, July 30th. Berenberg Bank reissued a "buy" rating and set a GBX 3,650 price objective on shares of The Weir Group in a report on Wednesday, August 5th. Jefferies Financial Group restated a "buy" rating and set a GBX 3,555 price objective on shares of The Weir Group in a research report on Wednesday, July 29th. Panmure Gordon upgraded shares of The Weir Group to a "buy" rating and set a GBX 3,490 target price on the stock in a report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 3,230 target price on shares of The Weir Group in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of GBX 3,408.33.

The Weir Group Trading Up 1.1%

The company has a debt-to-equity ratio of 91.54, a quick ratio of 1.16 and a current ratio of 2.55. The stock has a market capitalization of £7.55 billion, a PE ratio of 28.59, a PEG ratio of 2.59 and a beta of 1.08. The stock has a 50-day moving average price of GBX 2,556.95 and a two-hundred day moving average price of GBX 2,762.37.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported GBX 54.60 earnings per share (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 analysts forecast that The Weir Group PLC will post 136.0509554 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Penelope Anne Freer acquired 900 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of GBX 2,729 per share, for a total transaction of £24,561. Also, insider Nick Anderson acquired 1,470 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of GBX 2,713 per share, for a total transaction of £39,881.10. Corporate 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.

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