Weir Group (LON:WEIR) Stock Passes Below 50-Day Moving Average of $1,520.67

Weir Group PLC (LON:WEIR)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1,520.67 and traded as low as $1,512.50. Weir Group shares last traded at $1,546.50, with a volume of 867,737 shares.

A number of brokerages have issued reports on WEIR. JPMorgan Chase & Co. cut their price objective on shares of Weir Group from GBX 1,940 ($25.35) to GBX 1,800 ($23.52) and set an “overweight” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada increased their price objective on shares of Weir Group from GBX 1,900 ($24.83) to GBX 2,000 ($26.13) and gave the company an “outperform” rating in a report on Monday, May 20th. UBS Group reaffirmed a “buy” rating on shares of Weir Group in a report on Friday, June 21st. Peel Hunt reaffirmed a “buy” rating on shares of Weir Group in a report on Friday, May 17th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Weir Group in a report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 1,842.67 ($24.08).

The firm has a market cap of $4.01 billion and a price-to-earnings ratio of 208.99. The company has a 50-day simple moving average of GBX 1,519.65. The company has a quick ratio of 0.56, a current ratio of 1.30 and a debt-to-equity ratio of 65.31.

In other news, insider Graham Vanhegan sold 2,085 shares of Weir Group stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of GBX 1,690 ($22.08), for a total transaction of £35,236.50 ($46,042.73).

Weir Group Company Profile (LON:WEIR)

The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.

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