The Weir Group (LON:WEIR) Reaches New 52-Week High on Analyst Upgrade

Key Points

• The Weir Group PLC's shares reached a new 52-week high after JPMorgan Chase upgraded their price target from GBX 2,950 to GBX 3,300, maintaining an overweight rating on the stock.
• Several other analysts have also raised their price targets, with Citigroup giving a target of GBX 3,100 and Deutsche Bank increasing theirs to GBX 3,010, indicating strong analyst support.
• The company reported earnings of GBX 58.70 per share in its latest quarterly data, and analysts expect it to achieve approximately 136 earnings per share for the current fiscal year.

The Weir Group PLC (LON:WEIR - Get Free Report) shares reached a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,950 to GBX 3,300. JPMorgan Chase & Co. currently has an overweight rating on the stock. The Weir Group traded as high as GBX 2,862 ($38.36) and last traded at GBX 2,860 ($38.33), with a volume of 715356 shares changing hands. The stock had previously closed at GBX 2,802 ($37.56).

Several other research analysts have also issued reports on the stock. Citigroup restated a "buy" rating and set a GBX 3,100 price target on shares of The Weir Group in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Shore Capital lowered shares of The Weir Group to a "hold" rating and set a GBX 2,750 price target for the company. in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, The Weir Group presently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,972.

The Weir Group Stock Performance

The company has a market capitalization of £7.42 billion, a P/E ratio of 2,411.47, a PEG ratio of 2.59 and a beta of 1.41. The company's 50-day moving average is GBX 2,573.67 and its two-hundred day moving average is GBX 2,456.56. 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 Weir Group (LON:WEIR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported GBX 58.70 earnings per share for the quarter. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%. Equities analysts anticipate 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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