The Weir Group (LON:WEIR) Stock Crosses Below 200 Day Moving Average – Time to Sell?

The Weir Group PLC (LON:WEIR) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 2,641.02 and traded as low as GBX 2,544. The Weir Group shares last traded at GBX 2,576, with a volume of 793,403 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on WEIR. JPMorgan Chase & Co. boosted their price target on shares of The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 3,650 price objective on shares of The Weir Group in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 3,555 target price on shares of The Weir Group in a report on Wednesday, July 29th. Citigroup boosted their target price on The Weir Group from GBX 3,150 to GBX 3,200 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 3,230 price target on shares of The Weir Group in a report on Thursday, July 30th. Eight investment 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 Weir Group has a consensus rating of “Moderate Buy” and an average target price of GBX 3,408.33.

The Weir Group Trading Down 3.8%

The company has a market capitalization of £6.65 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. The business has a fifty day moving average price of GBX 2,706.07 and a 200 day moving average price of GBX 2,639.22. The company has a quick ratio of 1.16, a current ratio of 2.55 and a debt-to-equity ratio of 91.54.

The Weir Group (LON:WEIR) last posted its quarterly earnings data on Wednesday, July 29th. The company reported GBX 54.60 earnings per share (EPS) for the quarter. The Weir Group had a return on equity of 13.45% and a net margin of 9.97%. On average, analysts expect that The Weir Group PLC will post 136.0509554 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The Weir Group news, insider Penelope Anne Freer purchased 900 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of GBX 2,729 per share, with a total value of £24,561. Also, insider Nick Anderson acquired 1,470 shares of the stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of GBX 2,713 per share, for a total transaction of £39,881.10. Corporate insiders own 0.74% of the company’s stock.

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.