The Weir Group PLC (LON:WEIR – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 2,662 and traded as low as GBX 2,602. The Weir Group shares last traded at GBX 2,630, with a volume of 1,152,714 shares traded.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 3,230 target price on shares of The Weir Group in a research report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a GBX 3,555 price target on shares of The Weir Group in a report on Wednesday, July 29th. Citigroup lifted their price objective on The Weir Group from GBX 3,150 to GBX 3,200 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 3,650 price objective on shares of The Weir Group in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 3,408.33.
Check Out Our Latest Analysis on WEIR
The Weir Group Stock Down 7.2%
The company has a 50-day moving average price of GBX 2,662 and a 200 day moving average price of GBX 2,767.85. The firm has a market capitalization of £6.33 billion, a PE ratio of 23.97, a P/E/G ratio of 2.59 and a beta of 1.09. The company has a debt-to-equity ratio of 91.54, a current ratio of 2.55 and a quick ratio of 1.16.
Insiders Place Their Bets
In other The Weir Group news, insider Nick Anderson purchased 1,470 shares of The Weir Group stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of GBX 2,713 per share, for a total transaction of £39,881.10. 0.74% of the stock is owned by corporate insiders.
The Weir Group Company Profile
Founded in 1871, Weir is one of the world’s leading engineering businesses with a purpose to make its mining and infrastructure customers’ operations more sustainable and efficient. Weir’s highly engineered technology enables critical resources to be produced using less energy, water and waste while reducing customers’ total cost of ownership. Weir is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition.
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