The Weir Group (LON:WEIR) Reaches New 12-Month High – Time to Buy?

The Weir Group PLC (LON:WEIR) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 3,254 and last traded at GBX 3,240, with a volume of 720063 shares changing hands. The stock had previously closed at GBX 3,202.

Analyst Ratings Changes

A number of research firms recently weighed in on WEIR. JPMorgan Chase & Co. upped their target price on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the company a “buy” rating in a research report on Monday, January 12th. Peel Hunt restated a “buy” rating and issued a GBX 3,000 price objective on shares of The Weir Group in a report on Wednesday, November 5th. Citigroup boosted their target price on shares of The Weir Group from GBX 3,100 to GBX 3,300 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 3,175 price target on shares of The Weir Group in a research note on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, The Weir Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,186.43.

The Weir Group Stock Up 2.8%

The firm’s 50-day moving average price is GBX 2,919.64 and its two-hundred day moving average price is GBX 2,763.17. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The firm has a market cap of £8.69 billion, a PE ratio of 28.23, a P/E/G ratio of 2.59 and a beta of 1.41.

Insiders Place Their Bets

In related news, insider Jon Stanton acquired 573 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of GBX 2,874 per share, for a total transaction of £16,468.02. Also, insider Brian Puffer acquired 280 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of GBX 2,874 per share, for a total transaction of £8,047.20. 0.70% of the stock is owned by insiders.

About The Weir Group

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.