JPMorgan Chase & Co. Increases The Weir Group (LON:WEIR) Price Target to GBX 3,800

The Weir Group (LON:WEIR) had its target price boosted by equities researchers at JPMorgan Chase & Co. from GBX 3,500 to GBX 3,800 in a note issued to investors on Wednesday,Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 58.33% from the company’s current price.

Other analysts also recently issued research reports about the stock. Panmure Gordon raised shares of The Weir Group to a “buy” rating and set a GBX 3,490 price objective for the company in a research report on Friday, May 1st. Royal Bank Of Canada reissued a “buy” rating and set a GBX 4,000 target price on shares of The Weir Group in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Weir Group from GBX 3,280 to GBX 3,723 and gave the company a “buy” rating in a research note on Thursday, March 5th. Shore Capital Group reaffirmed a “hold” rating on shares of The Weir Group in a report on Thursday, April 30th. Finally, Citigroup dropped their price target on shares of The Weir Group from GBX 3,500 to GBX 3,250 and set a “buy” rating on the stock in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,452.

The Weir Group Stock Performance

The Weir Group stock opened at GBX 2,400 on Wednesday. The stock’s 50 day moving average price is GBX 2,593.82 and its 200 day moving average price is GBX 2,897.17. The firm has a market capitalization of £6.23 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.16 and a current ratio of 2.05. The Weir Group has a one year low of GBX 2,254 and a one year high of GBX 3,580.

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 that occurred on Monday, April 20th. The stock was sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Corporate insiders own 0.73% of the company’s stock.

About The Weir Group

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.