The Weir Group (LON:WEIR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

The Weir Group (LON:WEIR) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from GBX 3,300 to GBX 3,450 in a report released on Thursday,Digital Look reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 19.63% from the company’s previous close.

Several other research analysts also recently weighed in on WEIR. Peel Hunt reissued a “buy” rating and issued a GBX 3,000 target price on shares of The Weir Group in a research report on Wednesday, November 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 3,175 price objective on shares of The Weir Group in a research note on Thursday, November 6th. Shore Capital reiterated a “hold” rating and set a GBX 2,750 price objective on shares of The Weir Group in a research report on Wednesday, November 5th. Berenberg Bank raised their target price on The Weir Group from GBX 2,700 to GBX 3,350 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Citigroup lifted their price target on The Weir Group from GBX 3,100 to GBX 3,300 and gave the company a “buy” rating in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 3,147.86.

The Weir Group Trading Up 1.1%

LON:WEIR opened at GBX 2,884 on Thursday. The stock has a fifty day simple moving average of GBX 2,826.25 and a 200 day simple moving average of GBX 2,624.55. The firm has a market capitalization of £7.49 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The Weir Group has a 1-year low of GBX 1,875 and a 1-year high of GBX 3,008. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30.

Insider Activity

In related news, insider Jon Stanton bought 573 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of GBX 2,874 per share, for a total transaction of £16,468.02. Also, insider Brian Puffer purchased 280 shares of The Weir Group stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of GBX 2,874 per share, with a total value of £8,047.20. Corporate insiders own 0.70% 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.