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

Shares of The Weir Group PLC (LON:WEIR) reached a new 52-week high on Monday . The company traded as high as GBX 2,236 ($28.40) and last traded at GBX 2,234 ($28.38), with a volume of 593052 shares. The stock had previously closed at GBX 2,224.27 ($28.25).

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WEIR. JPMorgan Chase & Co. raised their price target on The Weir Group from GBX 2,075 ($26.36) to GBX 2,300 ($29.21) and gave the company an “overweight” rating in a report on Thursday, November 7th. Berenberg Bank cut their target price on shares of The Weir Group from GBX 2,600 ($33.02) to GBX 2,450 ($31.12) and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Shore Capital reiterated a “buy” rating on shares of The Weir Group in a research note on Tuesday, August 20th.

The Weir Group Price Performance

The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 79.85. The company has a 50 day moving average of GBX 2,141.98 and a 200-day moving average of GBX 2,055.05. The firm has a market capitalization of £5.80 billion, a P/E ratio of 2,616.47, a P/E/G ratio of 2.59 and a beta of 1.41.

Insider Activity

In other The Weir Group news, insider Nick Anderson bought 3,100 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of GBX 1,959 ($24.88) per share, for a total transaction of £60,729 ($77,135.78). 0.31% of the stock is currently owned by company insiders.

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.