A Reversal for Weir Group PLC Is Not Near. The Stock Reaches 52-Week High Today

 A Reversal for Weir Group PLC Is Not Near. The Stock Reaches 52 Week High Today

The stock of Weir Group PLC (LON:WEIR) hit a new 52-week high and has GBX 2202.10 target or 28.00% above today’s GBX 1720.39 share price. The 9 months bullish chart indicates low risk for the GBX 3.81B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the GBX 2202.10 price target is reached, the company will be worth GBX 1.07 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 2.03% or GBX 35.61 on November 11, hitting GBX 1720.39. About 1.65M shares traded hands or 18.71% up from the average. Weir Group PLC (LON:WEIR) has risen 51.50% since April 14, 2016 and is uptrending. It has outperformed by 45.36% the S&P500.

Weir Group PLC (LON:WEIR) Ratings Coverage

Out of 22 analysts covering Weir Group PLC (LON:WEIR), 7 rate it a “Buy”, 5 “Sell”, while 10 “Hold”. This means 32% are positive. Weir Group PLC has been the topic of 157 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, November 2 report. Panmure Gordon maintained it with “Sell” rating and GBX 875 target price in Monday, October 26 report. Barclays Capital maintained Weir Group PLC (LON:WEIR) on Tuesday, April 12 with “Equal Weight” rating. The rating was maintained by BNP Paribas with “Neutral” on Friday, November 6. Nomura upgraded the stock to “Buy” rating in Monday, April 4 report. The stock of Weir Group PLC (LON:WEIR) has “Underweight” rating given on Friday, July 29 by JP Morgan. JP Morgan maintained Weir Group PLC (LON:WEIR) on Monday, August 22 with “Underweight” rating. The firm has “Sell” rating given on Wednesday, January 6 by Panmure Gordon. The firm has “Underweight” rating by JP Morgan given on Wednesday, October 28. The stock has “Buy” rating given by HSBC on Monday, May 23.

Another recent and important Weir Group PLC (LON:WEIR) news was published by Fool.Co.Uk which published an article titled: “Should you buy BT Group plc, Schroders plc and Weir Group plc after today’s …” on July 28, 2016.

The Weir Group PLC is engaged in engineering businesses. The company has a market cap of 3.81 billion GBP. The Firm operates through three divisions: Minerals, Oil & Gas, and Power & Industrial. It currently has negative earnings. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.

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