The Weir Group (LON:WEIR) Price Target Cut to GBX 1,750

The Weir Group (LON:WEIR) had its price target reduced by Citigroup from GBX 2,100 ($27.44) to GBX 1,750 ($22.86) in a report released on Tuesday, PriceTargets.com reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 7.99% from the company’s current price.

Several other research firms have also weighed in on WEIR. Deutsche Bank Aktiengesellschaft reduced their target price on The Weir Group from GBX 2,000 ($26.13) to GBX 1,925 ($25.15) and set a “hold” rating for the company in a report on Friday, July 30th. JPMorgan Chase & Co. upgraded The Weir Group to an “overweight” rating and boosted their price objective for the company from GBX 1,800 ($23.52) to GBX 1,970 ($25.74) in a research report on Thursday, August 19th. Shore Capital reaffirmed a “buy” rating on shares of The Weir Group in a research note on Thursday, July 29th. Barclays reissued an “overweight” rating and issued a GBX 2,350 ($30.70) price objective on shares of The Weir Group in a research note on Monday, August 2nd. Finally, Berenberg Bank began coverage on The Weir Group in a research note on Monday. They set a “buy” rating and a GBX 2,060 ($26.91) price target on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 1,827.22 ($23.87).

Shares of LON WEIR opened at GBX 1,620.50 ($21.17) on Tuesday. The Weir Group has a one year low of GBX 1,405.50 ($18.36) and a one year high of GBX 2,130 ($27.83). The firm has a market capitalization of £4.21 billion and a PE ratio of -330.71. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 94.90. The business has a 50-day moving average price of GBX 1,687.31 and a two-hundred day moving average price of GBX 1,808.95.

In related news, insider Barbara Jeremiah acquired 1,000 shares of the stock in a transaction on Friday, September 17th. The shares were purchased at an average price of GBX 1,782 ($23.28) per share, for a total transaction of £17,820 ($23,281.94). Also, insider S (Venkat) Venkatakrishnan purchased 250 shares of the firm’s stock in a transaction dated Monday, August 23rd. The stock was acquired at an average price of GBX 1,638 ($21.40) per share, for a total transaction of £4,095 ($5,350.14).

The Weir Group Company Profile

The Weir Group PLC produces and sells highly engineered original equipment. It operates in two segments, Minerals and ESCO. The Minerals segment offers slurry handling equipment and associated aftermarket support services for abrasive high-wear applications used in the mining and oil sands markets. The ESCO segment provides ground engaging tools for surface mining and infrastructure.

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Analyst Recommendations for The Weir Group (LON:WEIR)

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