The Weir Group (LON:WEIR) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

The Weir Group PLC (LON:WEIR) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

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

The Weir Group Trading Up 0.6%

The business has a fifty day moving average price of GBX 2,444.02 and a 200 day moving average price of GBX 2,858.76. The company has a market capitalization of £6.17 billion, a PE ratio of 25.01, a P/E/G ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.16 and a current ratio of 2.05.

Insider Transactions at The Weir Group

In related news, insider Jon Stanton sold 25,580 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Company insiders own 0.73% of the company’s stock.

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. 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.