Weir Group’s (WEIR) “Outperform” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Weir Group (LON:WEIR) in a research note issued to investors on Thursday morning, ThisIsMoney.Co.Uk reports.

WEIR has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on Weir Group from GBX 1,940 ($25.35) to GBX 1,800 ($23.52) and set an overweight rating on the stock in a research report on Thursday, May 9th. Barclays reaffirmed an overweight rating on shares of Weir Group in a research report on Tuesday. Liberum Capital reaffirmed a buy rating on shares of Weir Group in a research report on Thursday, March 21st. Peel Hunt increased their price objective on Weir Group from GBX 1,800 ($23.52) to GBX 1,875 ($24.50) and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Canaccord Genuity dropped their price objective on Weir Group from GBX 1,850 ($24.17) to GBX 1,800 ($23.52) and set a buy rating on the stock in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of GBX 1,874.38 ($24.49).

Shares of LON WEIR traded down GBX 23 ($0.30) during trading on Thursday, reaching GBX 1,575 ($20.58). The company had a trading volume of 437,905 shares, compared to its average volume of 1,360,000. Weir Group has a 12-month low of GBX 1,222.50 ($15.97) and a 12-month high of GBX 2,333 ($30.48). The stock has a market cap of $4.14 billion and a P/E ratio of 212.84. The company has a current ratio of 1.30, a quick ratio of 0.56 and a debt-to-equity ratio of 65.31.

The company also recently announced a dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, April 25th will be given a GBX 30.45 ($0.40) dividend. This represents a yield of 1.91%. This is a boost from Weir Group’s previous dividend of $15.75. The ex-dividend date is Thursday, April 25th. Weir Group’s dividend payout ratio (DPR) is presently 8.24%.

In other Weir Group news, insider Graham Vanhegan sold 2,085 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of GBX 1,690 ($22.08), for a total value of £35,236.50 ($46,042.73).

About Weir Group

The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.

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Analyst Recommendations for Weir Group (LON:WEIR)

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