The Weir Group (LON:WEIR) Downgraded to Buy Rating by Citigroup

The Weir Group (LON:WEIR) was downgraded by analysts at Citigroup to a “buy” rating in a research report issued on Friday,London Stock Exchange reports.

A number of other research analysts have also recently issued reports on WEIR. Shore Capital Group reiterated a “hold” rating on shares of The Weir Group in a research note on Thursday, April 30th. Panmure Gordon upgraded 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 3,705 price target on shares of The Weir Group in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted 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. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 3,452.

The Weir Group Price Performance

LON:WEIR opened at GBX 2,368.03 on Friday. The firm has a market cap of £6.15 billion, a PE ratio of 24.90, a price-to-earnings-growth 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 quick ratio of 1.16, a current ratio of 2.05 and a debt-to-equity ratio of 93.56. The company’s 50-day moving average price is GBX 2,444.02 and its two-hundred day moving average price is GBX 2,858.76.

Insider Buying and Selling

In other The Weir Group news, insider Jon Stanton sold 25,580 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total value of £792,468.40. 0.73% of the stock is currently owned by corporate insiders.

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.