The Weir Group (LON:WEIR) Sets New 52-Week High – Should You Buy?

Shares of The Weir Group PLC (LON:WEIR) reached a new 52-week high on Wednesday . The company traded as high as GBX 3,400 and last traded at GBX 3,374, with a volume of 1487511 shares trading hands. The stock had previously closed at GBX 3,354.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WEIR shares. Shore Capital Group restated a “hold” rating and set a GBX 2,750 target price on shares of The Weir Group in a research note on Wednesday, November 5th. Peel Hunt reissued a “buy” rating and issued a GBX 3,000 price objective on shares of The Weir Group in a research note on Wednesday, November 5th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 3,175 price objective on shares of The Weir Group in a research report on Thursday, November 6th. Berenberg Bank upped their target price on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. raised their price target on The Weir Group from GBX 3,300 to GBX 3,450 and gave the company an “overweight” rating in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 3,243.57.

The Weir Group Stock Performance

The business’s fifty day moving average is GBX 2,999.07 and its two-hundred day moving average is GBX 2,795.03. The stock has a market capitalization of £8.76 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30.

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.