Citigroup Issues Positive Forecast for The Weir Group (LON:WEIR) Stock Price

The Weir Group (LON:WEIR) had its target price hoisted by analysts at Citigroup from GBX 3,100 to GBX 3,300 in a research note issued to investors on Thursday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 12.70% from the stock’s previous close.

WEIR has been the subject of several other reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a “buy” rating in a research report on Friday, August 1st. Shore Capital reissued a “hold” rating and issued a GBX 2,750 price target on shares of The Weir Group in a report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,175 price objective on shares of The Weir Group in a research note on Thursday. Peel Hunt reaffirmed a “buy” rating and set a GBX 3,000 price objective on shares of The Weir Group in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on The Weir Group from GBX 2,950 to GBX 3,300 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, The Weir Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,089.17.

The Weir Group Price Performance

Shares of WEIR opened at GBX 2,928.07 on Thursday. The firm has a market cap of £7.60 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The Weir Group has a 52-week low of GBX 1,875 and a 52-week high of GBX 3,008. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The business’s 50 day moving average price is GBX 2,733.21 and its two-hundred day moving average price is GBX 2,556.36.

Insider Activity

In other The Weir Group news, insider Jon Stanton acquired 573 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of GBX 2,874 per share, with a total value of £16,468.02. Also, insider Brian Puffer acquired 280 shares of the stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of GBX 2,874 per share, for a total transaction of £8,047.20. 0.70% of the stock is currently owned by insiders.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.