The Weir Group (LON:WEIR) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of The Weir Group PLC (LON:WEIR) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,762.37 and traded as high as GBX 2,940. The Weir Group shares last traded at GBX 2,910, with a volume of 1,248,181 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WEIR. Panmure Gordon raised shares of The Weir Group to a “buy” rating and set a GBX 3,490 price objective on the stock in a research report on Friday, May 1st. Citigroup lifted their price target on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the stock a “buy” rating in a report on Thursday, July 30th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 3,650 price target on shares of The Weir Group in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 3,230 price objective on shares of The Weir Group in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 3,555 target price on shares of The Weir Group in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, The Weir Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,408.33.

The Weir Group Trading Down 0.9%

The stock’s fifty day simple moving average is GBX 2,565.35 and its 200-day simple moving average is GBX 2,759.14. The firm has a market cap of £7.46 billion, a PE ratio of 28.23, a PEG ratio of 2.59 and a beta of 1.08. The company has a debt-to-equity ratio of 91.54, a current ratio of 2.55 and a quick ratio of 1.16.

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

Insider Activity

In other news, insider Nick Anderson acquired 1,470 shares of The Weir Group stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of GBX 2,713 per share, for a total transaction of £39,881.10. Also, insider Penelope Anne Freer bought 900 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of GBX 2,729 per share, with a total value of £24,561. 0.73% of the stock is currently owned by insiders.

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.