The Weir Group (LON:WEIR) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

The Weir Group PLC (LON:WEIR) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,680.68 and traded as low as GBX 2,608. The Weir Group shares last traded at GBX 2,630, with a volume of 674,861 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on WEIR. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 3,230 price objective on shares of The Weir Group in a report on Thursday, July 30th. Citigroup raised their price objective on 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. Jefferies Financial Group reiterated 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. Berenberg Bank restated a “buy” rating and set a GBX 3,650 price target on shares of The Weir Group in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on The Weir Group from GBX 3,500 to GBX 3,800 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, The Weir Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,408.33.

The Weir Group Stock Down 2.1%

The company has a current ratio of 2.55, a quick ratio of 1.16 and a debt-to-equity ratio of 91.54. The firm has a 50 day simple moving average of GBX 2,662.04 and a two-hundred day simple moving average of GBX 2,674.71. The company has a market capitalization of £6.80 billion, a PE ratio of 25.74, a P/E/G ratio of 2.59 and a beta of 1.08.

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 return on equity of 13.45% and a net margin of 9.97%. Research analysts expect that The Weir Group PLC will post 136.0509554 EPS for the current year.

Insiders Place Their Bets

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

About The Weir Group

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.