The Weir Group (OTCMKTS:WEGRY) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Weir Group (OTCMKTS:WEGRYGet Rating) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “The Weir Group PLC provides engineering solutions. The company’s operating segment consists of Minerals, Oil & Gas and Flow Control. Oil & Gas segment provides products and service solutions to upstream, production, transportation, refining and related industries. Flow Control segment designs and manufactures valves and pumps. Minerals segment offers provision of slurry handling equipment and associated aftermarket support. It also provides specialist support services to the global power generation, industrial and oil and gas sectors. The Weir Group PLC is headquartered in Glasgow, the United Kingdom. “

Several other equities analysts have also commented on WEGRY. JPMorgan Chase & Co. upped their target price on The Weir Group from GBX 1,915 ($23.61) to GBX 2,020 ($24.90) in a research note on Friday, April 29th. Berenberg Bank lowered their price target on The Weir Group from GBX 2,240 ($27.61) to GBX 2,190 ($27.00) in a research report on Friday, March 18th. HSBC raised The Weir Group from a hold rating to a buy rating in a research report on Friday, March 11th. Finally, Morgan Stanley upped their target price on The Weir Group from GBX 2,150 ($26.50) to GBX 2,160 ($26.63) in a research report on Thursday, January 27th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, The Weir Group has an average rating of Buy and an average price target of $1,706.60.

The Weir Group stock opened at $9.29 on Wednesday. The stock has a fifty day moving average price of $10.44 and a 200 day moving average price of $11.26. The Weir Group has a 52 week low of $8.61 and a 52 week high of $14.73. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.

The company also recently disclosed a dividend, which will be paid on Thursday, June 9th. Shareholders of record on Friday, April 22nd will be paid a dividend of $0.0652 per share. This represents a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 21st.

The Weir Group Company Profile (Get Rating)

The Weir Group PLC produces and sells highly engineered original equipment worldwide. 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.

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Analyst Recommendations for The Weir Group (OTCMKTS:WEGRY)

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