The Weir Group (LON:WEIR) Reaches New 52-Week High – Still a Buy?

Shares of The Weir Group PLC (LON:WEIR) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 2,506 ($33.97) and last traded at GBX 2,502 ($33.92), with a volume of 242058 shares traded. The stock had previously closed at GBX 2,456 ($33.29).

Analyst Ratings Changes

Several analysts have issued reports on WEIR shares. Shore Capital restated a “buy” rating on shares of The Weir Group in a research note on Thursday, April 24th. Royal Bank of Canada increased their target price on The Weir Group from GBX 2,500 ($33.89) to GBX 2,700 ($36.60) and gave the stock an “outperform” rating in a research report on Monday, March 3rd.

The Weir Group Price Performance

The company has a market capitalization of £6.41 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.59 and a beta of 1.41. The business’s 50-day simple moving average is GBX 2,296.82 and its 200 day simple moving average is GBX 2,298.91. The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 80.30.

Insider Activity

In related news, insider Graham Vanhegan sold 3,491 shares of The Weir Group stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of GBX 2,022 ($27.41), for a total value of £70,588.02 ($95,686.62). Also, insider Jon Stanton sold 5,119 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of GBX 2,107 ($28.56), for a total value of £107,857.33 ($146,207.58). Insiders sold a total of 65,298 shares of company stock worth $144,862,893 over the last 90 days. 0.31% of the stock is currently owned by company 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.