Weir Group (OTCMKTS:WEGRY) Shares Gap Down – What’s Next?

Shares of Weir Group (OTCMKTS:WEGRY) gapped down prior to trading on Friday. The stock had previously closed at $18.24, but opened at $17.4550. Weir Group shares last traded at $17.4550, with a volume of 405 shares changing hands.

Analysts Set New Price Targets

WEGRY has been the subject of a number of recent research reports. Kepler Capital Markets raised shares of Weir Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 17th. Citigroup reaffirmed a “buy” rating on shares of Weir Group in a research note on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Weir Group in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Weir Group presently has a consensus rating of “Moderate Buy”.

Weir Group Stock Performance

The business has a 50-day moving average of $18.51 and a 200 day moving average of $18.08.

About Weir Group

The Weir Group plc is a Glasgow-based engineering company that develops equipment and technology for the mining and minerals-processing industries. Its products are designed to help customers extract, transport, process and manage mineral resources, with a focus on improving operational efficiency, reliability and sustainability.

Through its Weir Minerals business, the company supplies pumps, crushers, screens, hydrocyclones, mill liners, valves and other equipment used in applications including comminution, slurry transportation, classification and dewatering.