The Weir Group PLC (LON:WEIR) Stock Has Average Price Target of GBX 3,408.33 According to Brokerages

The Weir Group PLC (LON:WEIR) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is GBX 3,408.33.

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 3,230 price objective on shares of The Weir Group in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Citigroup upped their target price on shares of The Weir Group from GBX 3,150 to GBX 3,200 and gave the stock a “buy” rating in a report on Thursday, July 30th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 3,650 price objective on shares of The Weir Group in a research note on Wednesday, August 5th. Finally, 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.

The Weir Group Trading Up 0.2%

Shares of WEIR stock opened at GBX 2,580 on Friday. The Weir Group has a 1-year low of GBX 2,254 and a 1-year high of GBX 3,580. The company has a market cap of £6.70 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 2.59 and a beta of 1.08. The company has a debt-to-equity ratio of 91.54, a current ratio of 2.55 and a quick ratio of 1.16. The stock has a 50 day simple moving average of GBX 2,704.40 and a 200-day simple moving average of GBX 2,644.43.

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

Insider Buying and Selling

In other news, insider Penelope Anne Freer purchased 900 shares of The Weir Group stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of GBX 2,729 per share, with a total value of £24,561. Also, insider Nick Anderson acquired 1,470 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average price of GBX 2,713 per share, for a total transaction of £39,881.10. 0.73% of the stock is owned by company insiders.

About The Weir Group

Founded in 1871, Weir is one of the world’s leading engineering businesses with a purpose to make its mining and infrastructure customers’ operations more sustainable and efficient. Weir’s highly engineered technology enables critical resources to be produced using less energy, water and waste while reducing customers’ total cost of ownership. Weir is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition.