JPMorgan Chase & Co. Issues Positive Forecast for The Weir Group (LON:WEIR) Stock Price

The Weir Group (LON:WEIR) had its price target hoisted by JPMorgan Chase & Co. from GBX 3,300 to GBX 3,450 in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have an overweight rating on the stock.

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

The Weir Group Stock Up 1.1%

Shares of LON WEIR opened at GBX 2,882 on Thursday. The company has a 50 day simple moving average of GBX 2,831.13 and a 200 day simple moving average of GBX 2,626.34. The firm has a market cap of £7.48 billion, a PE ratio of 24.30, 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 debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16.

Insider Activity at The Weir Group

In other news, insider Brian Puffer bought 280 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of GBX 2,874 per share, for a total transaction of £8,047.20. Also, insider Jon Stanton purchased 573 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of GBX 2,874 per share, for a total transaction of £16,468.02. 0.70% of the stock is currently owned by company 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.