The Weir Group (LON:WEIR) Sets New 1-Year High – Here’s What Happened

The Weir Group PLC (LON:WEIR)’s stock price reached a new 52-week high on Thursday . The company traded as high as GBX 3,078 and last traded at GBX 3,044, with a volume of 1097843 shares changing hands. The stock had previously closed at GBX 3,030.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WEIR shares. Citigroup boosted their price target on The Weir Group from GBX 3,100 to GBX 3,300 and gave the company a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Shore Capital reaffirmed a “hold” rating and issued a GBX 2,750 target price on shares of The Weir Group in a report on Wednesday, November 5th. Berenberg Bank boosted their price target on The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 3,175 price objective on shares of The Weir Group in a research note on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, The Weir Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 3,186.43.

The Weir Group Stock Performance

The company has a market cap of £7.94 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The company has a fifty day moving average of GBX 2,856.66 and a two-hundred day moving average of GBX 2,718.95.

Insider Activity

In other The Weir Group news, insider Jon Stanton bought 573 shares of The Weir Group stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of GBX 2,874 per share, with a total value of £16,468.02. Also, insider Brian Puffer purchased 280 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was acquired at an average price of GBX 2,874 per share, with a total value of £8,047.20. Insiders own 0.70% of the company’s stock.

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.