The Weir Group (LON:WEIR) Hits New 12-Month High - Here's What Happened

Key Points

• The Weir Group PLC's stock reached a new 52-week high at GBX 2,880 ($38.61) during mid-day trading.
• Analyst ratings for The Weir Group are mixed, with Deutsche Bank upgrading their target to GBX 3,010 while Shore Capital downgraded their rating to "hold".
• The company reported a quarterly earnings per share of GBX 58.70 and has a current consensus rating of "Moderate Buy" with a price target of GBX 2,972.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 2,880 ($38.61) and last traded at GBX 2,878 ($38.58), with a volume of 1564425 shares. The stock had previously closed at GBX 2,850 ($38.20).

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WEIR shares. Shore Capital downgraded The Weir Group to a "hold" rating and set a GBX 2,750 price objective on the stock. in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on The Weir Group from GBX 2,710 to GBX 3,010 and gave the company a "buy" rating in a research report on Friday, August 1st. Citigroup restated a "buy" rating and set a GBX 3,100 price target on shares of The Weir Group in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Weir Group from GBX 2,950 to GBX 3,300 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, The Weir Group currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,972.

The Weir Group Price Performance

The firm has a market capitalization of £7.46 billion, a PE ratio of 24.23, 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 80.30. The firm's fifty day simple moving average is GBX 2,625.51 and its 200-day simple moving average is GBX 2,487.

The Weir Group (LON:WEIR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported GBX 58.70 EPS for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. On average, research analysts forecast that The Weir Group PLC will post 136.0509554 earnings per share for the current fiscal year.

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.

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