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

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 passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,395.09 ($32.22) and traded as high as GBX 2,473.19 ($33.27). The Weir Group shares last traded at GBX 2,458 ($33.07), with a volume of 379,784 shares traded.

Wall Street Analysts Forecast Growth

WEIR has been the topic of a number of research reports. Shore Capital downgraded 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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 price objective on shares of The Weir Group in a report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 2,772.

The Weir Group Trading Up 1.1%

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 company has a 50-day moving average price of GBX 2,534.06 and a 200 day moving average price of GBX 2,399.42. 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 issued 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 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.

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.