The Weir Group (LON:WEIR) Sets New 12-Month High – Should You Buy?

The Weir Group PLC (LON:WEIR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 3,400 and last traded at GBX 3,374, with a volume of 1487511 shares traded. The stock had previously closed at GBX 3,354.

Wall Street Analyst Weigh In

WEIR has been the subject of a number of research reports. Peel Hunt restated a “buy” rating and set a GBX 3,000 target price on shares of The Weir Group in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on The Weir Group from GBX 3,300 to GBX 3,450 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Berenberg Bank upped their price objective on shares of The Weir Group from GBX 2,700 to GBX 3,350 and gave the company a “buy” rating in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft upped their price target on The Weir Group from GBX 3,140 to GBX 3,280 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Shore Capital reiterated a “hold” rating and issued a GBX 2,750 target price on shares of The Weir Group in a research report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,186.43.

The Weir Group Stock Up 0.8%

The firm has a market cap of £8.78 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.59 and a beta of 1.41. The firm’s fifty day moving average is GBX 2,962 and its 200 day moving average is GBX 2,781.84. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07.

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.