Weir Group (OTCMKTS:WEGRY) Shares Gap Down – What’s Next?

Weir Group (OTCMKTS:WEGRY) gapped down before the market opened on Thursday . The stock had previously closed at $18.72, but opened at $17.85. Weir Group shares last traded at $17.7560, with a volume of 833 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WEGRY shares. Citigroup restated a “buy” rating on shares of Weir Group in a report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Weir Group in a research report on Wednesday, August 19th. Finally, Kepler Capital Markets upgraded Weir Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Weir Group presently has a consensus rating of “Moderate Buy”.

Weir Group Stock Performance

The stock’s fifty day moving average is $18.39 and its two-hundred day moving average is $18.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.05 and a quick ratio of 1.30.

About Weir Group

Weir Group plc is a Glasgow, Scotland-based engineering company that supplies equipment, technology and services to the global mining industry. Its products are designed to support key stages of mineral processing, including crushing, grinding, classification, slurry handling, dewatering and tailings management.

The company operates primarily through its Weir Minerals and Weir ESCO businesses. Weir Minerals provides pumps, valves, crushers, screens, hydrocyclones, mill liners and other processing equipment, while Weir ESCO supplies ground-engaging tools and related products for surface mining and construction equipment.