The Weir Group (LON:WEIR) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• The Weir Group PLC's stock price has surpassed its 200-day moving average, marking a trading high of GBX 2,484 ($33.53) and a last traded price of GBX 2,454 ($33.13).
• Analysts have mixed ratings on the stock, with four analysts rating it as a Buy and one as a Hold, resulting in a consensus target price of GBX 2,772.
• The company reported a net margin of 8.60% and earnings per share (EPS) of GBX 58.70 for the last quarter, with expectations of reaching approximately 136.05 EPS for the current year.

The Weir Group PLC (LON:WEIR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,400.28 ($32.15) and traded as high as GBX 2,484 ($33.27). The Weir Group shares last traded at GBX 2,454 ($32.87), with a volume of 302,721 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WEIR shares. Citigroup reaffirmed a "buy" rating and issued a GBX 3,100 target price on shares of The Weir Group in a report on Monday, August 4th. Shore Capital lowered shares of The Weir Group to a "hold" rating and set a GBX 2,750 price objective on the stock. in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a "buy" rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,772.

The Weir Group Trading Down 0.4%

The business has a 50 day moving average of GBX 2,533.37 and a 200-day moving average of GBX 2,404.85. The stock has a market cap of £6.37 billion, a PE ratio of 2,070.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 80.30.

The Weir Group (LON:WEIR - Get Free Report) last released its quarterly earnings results 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%. On average, analysts anticipate that The Weir Group PLC will post 136.0509554 EPS 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.