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

Key Points

• The Weir Group's stock price recently exceeded its **200-day moving average**, trading at **GBX 2,860 ($38.04)**, indicating positive momentum in the market.
• Analysts have mixed opinions on the stock, with **Citigroup** maintaining a **"buy" rating** and a target of **GBX 3,100**, while **Shore Capital** has downgraded it to a **"hold" rating** with a target of **GBX 2,750**.
• The company reported earnings of **GBX 58.70 per share** for the previous quarter and is projected to achieve **136.05 EPS** for the current year, reflecting a solid performance.

The Weir Group PLC (LON:WEIR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,459.83 ($32.71) and traded as high as GBX 2,862 ($38.06). The Weir Group shares last traded at GBX 2,860 ($38.04), with a volume of 717,056 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup reaffirmed a "buy" rating and issued a GBX 3,100 price objective on shares of The Weir Group in a research report on Monday, August 4th. Shore Capital downgraded The Weir Group to a "hold" rating and set a GBX 2,750 price objective on the stock. in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on The Weir Group from GBX 2,710 to GBX 3,010 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on The Weir Group from GBX 2,950 to GBX 3,300 and gave the stock an "overweight" rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, The Weir Group currently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,972.

The Weir Group Trading Down 0.1%

The firm has a 50-day simple moving average of GBX 2,577.55 and a 200-day simple moving average of GBX 2,459.83. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30. The stock has a market cap of £7.42 billion, a PE ratio of 2,409.78, a P/E/G ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR - Get Free Report) last released 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 return on equity of 12.79% and a net margin of 8.60%. 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.

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