The Weir Group (LON:WEIR) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• The Weir Group's shares surpassed their 200-day moving average during trading, with a last traded price of GBX 2,458 ($33.16).
• Analysts are optimistic about the company's prospects, with several raising their target prices, including Deutsche Bank setting a target of GBX 3,010 and Citigroup a target of GBX 3,100.
• The company reported an earnings per share (EPS) of GBX 58.70 for the last quarter, showing strong profitability with a net margin of 8.60%.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,395.09 ($32.40) and traded as high as GBX 2,473.19 ($33.45). The Weir Group shares last traded at GBX 2,458 ($33.25), with a volume of 379,784 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WEIR shares. Shore Capital lowered shares of The Weir Group to a "hold" rating and set a GBX 2,750 price target on the stock. in a report on Thursday, July 31st. Citigroup restated a "buy" rating and issued a GBX 3,100 target price on shares of The Weir Group in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,772.

The Weir Group Stock Performance

The company has a 50-day moving average price of GBX 2,534.54 and a two-hundred day moving average price of GBX 2,397.87. 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 stock has a market capitalization of £6.46 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR - Get Free Report) last posted 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%. On average, equities analysts forecast that The Weir Group PLC will post 136.0509554 earnings per share for the current 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.