The Weir Group (LON:WEIR) Hits New 12-Month High – Time to Buy?

The Weir Group PLC (LON:WEIR)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 2,236 ($28.33) and last traded at GBX 2,234 ($28.31), with a volume of 593052 shares trading hands. The stock had previously closed at GBX 2,224.27 ($28.18).

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WEIR. JPMorgan Chase & Co. raised their price target on The Weir Group from GBX 2,075 ($26.29) to GBX 2,300 ($29.14) and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Berenberg Bank dropped their target price on shares of The Weir Group from GBX 2,600 ($32.94) to GBX 2,450 ($31.04) and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Shore Capital reiterated a “buy” rating on shares of The Weir Group in a research report on Tuesday, August 20th.

The Weir Group Stock Performance

The company has a market capitalization of £5.89 billion, a PE ratio of 2,649.41, a PEG ratio of 2.59 and a beta of 1.41. The company has a 50 day moving average of GBX 2,146.74 and a two-hundred day moving average of GBX 2,057.41. 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

In other The Weir Group news, insider Nick Anderson bought 3,100 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of GBX 1,959 ($24.82) per share, for a total transaction of £60,729 ($76,950.08). Company insiders own 0.31% of the company’s stock.

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.