The stock of Weir Group PLC (LON:WEIR) hit a new 52-week high and has GBX 1875.05 target or 4.00% above today’s GBX 1802.93 share price. The 7 months bullish chart indicates low risk for the GBX 3.93B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the GBX 1875.05 price target is reached, the company will be worth GBX 157.20M 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 0.61% or GBX 11.07 on November 25, hitting GBX 1802.93. About 451,271 shares traded hands. Weir Group PLC (LON:WEIR) has risen 48.72% since April 28, 2016 and is uptrending. It has outperformed by 43.31% 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 159 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “Underweight” rating by JP Morgan given on Friday, April 29. The company was maintained on Friday, April 29 by Barclays Capital. The company was maintained on Friday, November 6 by BNP Paribas. As per Wednesday, February 24, the company rating was maintained by Societe Generale. The rating was maintained by BNP Paribas on Tuesday, June 21 with “Outperform”. The stock of Weir Group PLC (LON:WEIR) earned “Outperform” rating by Credit Suisse on Tuesday, October 4. On Tuesday, December 1 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Barclays Capital maintained it with “Equal Weight” rating and GBX 1620 target price in Tuesday, August 4 report. Goldman Sachs maintained it with “Buy” rating and GBX 1550 target price in Wednesday, November 4 report. Canaccord Genuity maintained Weir Group PLC (LON:WEIR) rating on Wednesday, November 2. Canaccord Genuity has “Sell” rating and GBX 1350 price target.
More news for Weir Group PLC (LON:WEIR) were recently published by: Fool.Co.Uk, which released: “Should you buy BT Group plc, Schroders plc and Weir Group plc after today’s …” on July 28, 2016. Moodys.com‘s article titled: “Moody’s downgrades Weir to Baa3; outlook negative” and published on February 29, 2016 is yet another important article.
The Weir Group PLC is engaged in engineering businesses. The company has a market cap of 3.93 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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