Research analysts at Shore Capital initiated coverage on shares of Weir Group (LON:WEIR) in a report released on Wednesday, ThisIsMoney.Co.Uk reports. The brokerage set a “sell” rating on the stock.
Several other analysts have also issued reports on WEIR. JPMorgan Chase & Co. lowered their price target on shares of Weir Group from GBX 1,500 ($19.60) to GBX 1,380 ($18.03) and set a “neutral” rating on the stock in a research report on Tuesday. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Weir Group in a research note on Wednesday, July 10th. Peel Hunt cut shares of Weir Group to a “hold” rating and reduced their price objective for the company from GBX 1,875 ($24.50) to GBX 1,585 ($20.71) in a research note on Tuesday, September 24th. Liberum Capital reaffirmed a “hold” rating and set a GBX 1,450 ($18.95) price objective on shares of Weir Group in a research note on Friday, September 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Weir Group in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Weir Group presently has a consensus rating of “Buy” and a consensus target price of GBX 1,715.67 ($22.42).
LON WEIR opened at GBX 1,350.50 ($17.65) on Wednesday. The company’s 50 day moving average is GBX 1,430.30 and its 200-day moving average is GBX 1,508.05. Weir Group has a 12-month low of GBX 1,222.50 ($15.97) and a 12-month high of GBX 1,814.50 ($23.71). The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 86.36. The firm has a market cap of $3.52 billion and a P/E ratio of 900.33.
About Weir Group
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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