The Weir Group (LON:WEIR) Hits New 52-Week High – Here’s Why

The Weir Group PLC (LON:WEIR) shares reached a new 52-week high on Monday . The stock traded as high as GBX 2,226 ($28.03) and last traded at GBX 2,220 ($27.96), with a volume of 614145 shares traded. The stock had previously closed at GBX 2,176 ($27.40).

Wall Street Analyst Weigh In

WEIR has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of The Weir Group from GBX 2,475 ($31.17) to GBX 2,500 ($31.48) and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of The Weir Group from GBX 2,075 ($26.13) to GBX 2,300 ($28.96) and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Berenberg Bank reduced their target price on shares of The Weir Group from GBX 2,600 ($32.74) to GBX 2,450 ($30.85) and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Shore Capital reiterated a “buy” rating on shares of The Weir Group in a research note on Tuesday, August 20th.

The Weir Group Trading Up 2.1 %

The firm’s 50 day moving average is GBX 2,132.17 and its 200 day moving average is GBX 2,051.08. The company has a market cap of £5.77 billion, a PE ratio of 2,560.00, a PEG ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 79.85, a current ratio of 2.07 and a quick ratio of 1.16.

Insider Activity at The Weir Group

In related news, insider Nick Anderson bought 3,100 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of GBX 1,959 ($24.67) per share, for a total transaction of £60,729 ($76,475.26). 0.31% 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.