The Weir Group (LON:WEIR) Reaches New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

Several equities analysts recently issued reports on WEIR shares. Berenberg Bank boosted their target price on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the company a “buy” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. upped their price objective on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research note on Monday, January 12th. Citigroup lifted 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. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 3,175 price target on shares of The Weir Group in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,186.43.

The Weir Group Trading Up 0.1%

The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 80.30. The company has a market capitalization of £7.97 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.59 and a beta of 1.41. The company has a fifty day moving average of GBX 2,863.59 and a 200-day moving average of GBX 2,725.41.

Insider Buying and Selling

In other news, insider Brian Puffer purchased 280 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of GBX 2,874 per share, with a total value of £8,047.20. Also, insider Jon Stanton acquired 573 shares of The Weir Group stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of GBX 2,874 per share, with a total value of £16,468.02. 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.