The Weir Group (LON:WEIR) Reaches New 12-Month High - Still a Buy?

Key Points

• The Weir Group PLC shares reached a new 52-week high of GBX 2,720 ($36.30) during trading, reflecting strong interest with over 1.65 million shares traded.
• Analysts have mixed opinions on the stock, with Deutsche Bank increasing its price target to GBX 3,010 while Shore Capital downgraded it to a "hold" rating with a target of GBX 2,750.
• The company reported quarterly earnings of GBX 58.70 per share and has a forecasted annual EPS of approximately 136.05, indicating positive earnings potential.

The Weir Group PLC (LON:WEIR - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as GBX 2,720 ($36.30) and last traded at GBX 2,708 ($36.14), with a volume of 1654181 shares traded. The stock had previously closed at GBX 2,638 ($35.21).

Analyst Ratings Changes

WEIR has been the subject of several recent analyst reports. Shore Capital cut The Weir Group to a "hold" rating and set a GBX 2,750 price target for the company. in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on The Weir Group from GBX 2,710 to GBX 3,010 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Citigroup reaffirmed a "buy" rating and set a GBX 3,100 target price on shares of The Weir Group in a report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 2,772.

The Weir Group Stock Performance

The firm has a 50 day moving average of GBX 2,551.98 and a 200-day moving average of GBX 2,431.87. The stock has a market capitalization of £7.04 billion, a PE ratio of 2,284.99, a P/E/G ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07.

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

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.

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