The Weir Group (LON:WEIR) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of The Weir Group PLC (LON:WEIR) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,858.76 and traded as low as GBX 2,332. The Weir Group shares last traded at GBX 2,346.08, with a volume of 584,095 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WEIR. Shore Capital Group reiterated a “hold” rating on shares of The Weir Group in a research note on Thursday, April 30th. Citigroup cut The Weir Group to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on The Weir Group from GBX 3,500 to GBX 3,800 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,705 target price on shares of The Weir Group in a research report on Thursday, April 30th. Finally, Panmure Gordon upgraded The Weir Group to a “buy” rating and set a GBX 3,490 price target for the company in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, The Weir Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,452.

The Weir Group Trading Up 0.3%

The firm has a market cap of £6.15 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.16 and a current ratio of 2.05. The firm has a fifty day moving average of GBX 2,436.14 and a 200-day moving average of GBX 2,855.34.

Insiders Place Their Bets

In other The Weir Group news, insider Jon Stanton sold 25,580 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of GBX 3,098, for a total value of £792,468.40. 0.73% of the stock is owned by corporate 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. 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.