The Weir Group’s (WEIR) “Buy” Rating Reaffirmed at Berenberg Bank

The Weir Group (LON:WEIR)‘s stock had its “buy” rating reissued by Berenberg Bank in a report issued on Wednesday,Digital Look reports. They currently have a GBX 3,650 target price on the stock. Berenberg Bank’s target price would suggest a potential upside of 34.59% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Panmure Gordon raised The Weir Group to a “buy” rating and set a GBX 3,490 price target on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Shore Capital Group reissued a “hold” rating on shares of The Weir Group in a research note on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating and set a GBX 3,555 target price on shares of The Weir Group in a report on Wednesday, July 29th. Finally, Citigroup lifted their price target on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the company a “buy” rating in a research note on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 3,408.33.

The Weir Group Stock Performance

Shares of The Weir Group stock opened at GBX 2,712 on Wednesday. The company has a market capitalization of £7.04 billion, a PE ratio of 28.52, a PEG ratio of 2.59 and a beta of 1.07. The Weir Group has a 12 month low of GBX 2,254 and a 12 month high of GBX 3,580. The company has a current ratio of 2.55, a quick ratio of 1.16 and a debt-to-equity ratio of 91.54. The stock’s fifty day simple moving average is GBX 2,455.95 and its 200 day simple moving average is GBX 2,812.24.

The Weir Group (LON:WEIR) last posted its earnings results on Wednesday, July 29th. The company reported GBX 54.60 earnings per share for the quarter. The Weir Group had a return on equity of 13.45% and a net margin of 9.97%. On average, research analysts predict that The Weir Group will post 136.0509554 EPS for the current year.

Insider Transactions at The Weir Group

In other The Weir Group news, insider Penelope Anne Freer purchased 900 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of GBX 2,729 per share, with a total value of £24,561. Insiders own 0.73% of the company’s stock.

The Weir Group Company Profile

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. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based Artificial Intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.