The Weir Group (LON:WEIR) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of The Weir Group PLC (LON:WEIRGet Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,715.38 and traded as low as GBX 2,714. The Weir Group shares last traded at GBX 2,785.69, with a volume of 52,988,508 shares changing hands.

Wall Street Analyst Weigh In

WEIR has been the topic of several research reports. Citigroup boosted their price target on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased 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 report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 3,230 price objective on shares of The Weir Group in a research note on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating and issued a GBX 3,555 target price on shares of The Weir Group in a report on Wednesday, July 29th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 3,650 target price on shares of The Weir Group in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,408.33.

Check Out Our Latest Report on WEIR

The Weir Group Trading Down 4.7%

The stock has a market cap of £6.90 billion, a PE ratio of 26.10, a PEG ratio of 2.59 and a beta of 1.08. The company has a debt-to-equity ratio of 91.54, a quick ratio of 1.16 and a current ratio of 2.55. The stock has a fifty day moving average price of GBX 2,641.38 and a 200 day moving average price of GBX 2,704.96.

The Weir Group (LON:WEIRGet Free Report) last released its earnings results on Wednesday, July 29th. The company reported GBX 54.60 earnings per share for the quarter. The Weir Group had a return on equity of 13.45% and a net margin of 9.97%. Equities analysts expect that The Weir Group PLC will post 136.0509554 EPS for the current year.

Insider Buying and Selling at The Weir Group

In other news, insider Penelope Anne Freer acquired 900 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of GBX 2,729 per share, for a total transaction of £24,561. Also, insider Nick Anderson bought 1,470 shares of The Weir Group stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of GBX 2,713 per share, for a total transaction of £39,881.10. 0.73% of the stock is owned by insiders.

About The Weir Group

(Get Free Report)

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.

Further Reading

Receive News & Ratings for The Weir Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Weir Group and related companies with MarketBeat.com's FREE daily email newsletter.