The Weir Group (LON:WEIR) Stock Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• The Weir Group shares fell below their 200-day moving average, trading as low as GBX 2,332 and last changing hands at GBX 2,346.08, a technical signal that may worry investors.
• Broker sentiment remains mostly positive, with eight Buy ratings and one Hold; the average analyst target price is GBX 3,452, well above the current share price.
• Insider activity was also notable, as CEO Jon Stanton sold 25,580 shares in April for about £792,468, while the stock shows a market cap of £6.17 billion and a high debt-to-equity ratio of 93.56.

The Weir Group PLC (LON:WEIR - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,858.76 and traded as low as GBX 2,332. The Weir Group shares last traded at GBX 2,346.08, with a volume of 584,095 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WEIR. Panmure Gordon raised shares of The Weir Group to a "buy" rating and set a GBX 3,490 price objective for the company in a research note on Friday, May 1st. Citigroup reduced their target price on The Weir Group from GBX 3,500 to GBX 3,250 and set a "buy" rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 3,705 target price on shares of The Weir Group in a report on Thursday, April 30th. Shore Capital Group reissued a "hold" rating on shares of The Weir Group in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on The Weir Group from GBX 3,500 to GBX 3,800 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, The Weir Group presently has an average rating of "Moderate Buy" and an average target price of GBX 3,452.

The Weir Group Stock Performance

The stock's 50-day moving average is GBX 2,444.02 and its 200-day moving average is GBX 2,858.76. The stock has a market cap of £6.17 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 93.56, a current ratio of 2.05 and a quick ratio of 1.16.

Insider Buying and Selling at The Weir Group

In other news, insider Jon Stanton sold 25,580 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of GBX 3,098, for a total transaction of £792,468.40. 0.73% of the stock is currently owned by corporate insiders.

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. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based Artificial Intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.

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