The Weir Group (LON:WEIR) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• The Weir Group's shares recently crossed above their 200-day moving average, peaking at GBX 2,510 during trading.
• Analysts have mixed ratings, with Citigroup maintaining a "buy" rating and a price target of GBX 3,100, while Shore Capital downgraded the stock to a "hold" with a GBX 2,750 target.
• The company reported a net margin of 8.60% and earnings per share of GBX 58.70 for the last quarter, with projections for the current fiscal year at 136.05 EPS.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,406.32 ($32.55) and traded as high as GBX 2,510 ($33.96). The Weir Group shares last traded at GBX 2,502.70 ($33.86), with a volume of 487,808 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WEIR. Shore Capital lowered 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. Citigroup restated a "buy" rating and set a GBX 3,100 price target on shares of The Weir Group in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a "buy" rating in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 2,772.

The Weir Group Price Performance

The company has a 50-day moving average price of GBX 2,537.75 and a two-hundred day moving average price of GBX 2,412.05. The company has a debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16. The company has a market cap of £6.64 billion, a PE ratio of 2,156.83, a P/E/G ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported GBX 58.70 EPS for the quarter. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%. Sell-side analysts expect 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.