The Weir Group (LON:WEIR) Sets New 1-Year High – Should You Buy?

The Weir Group PLC (LON:WEIR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 3,554 and last traded at GBX 3,532, with a volume of 1671848 shares traded. The stock had previously closed at GBX 3,480.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WEIR shares. Berenberg Bank raised their price target on The Weir Group from GBX 2,700 to GBX 3,350 and gave the company a “buy” rating in a research report on Monday, November 10th. Citigroup raised their price objective on The Weir Group from GBX 3,300 to GBX 3,700 and gave the company a “buy” rating in a report on Thursday, February 5th. Shore Capital Group reaffirmed a “hold” rating and issued a GBX 2,750 target price on shares of The Weir Group in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 3,243.57.

The Weir Group Trading Up 0.2%

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 50-day moving average of GBX 3,171.58 and a 200-day moving average of GBX 2,881.71. The firm has a market capitalization of £9.20 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41.

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.