Zacks Research upgraded shares of WEG (OTCMKTS:WEGZY – Free Report) to a hold rating in a report issued on Tuesday,Zacks.com reports.
WEG Stock Up 9.0%
Shares of OTCMKTS:WEGZY opened at $9.12 on Tuesday. WEG has a 12 month low of $6.35 and a 12 month high of $10.80. The company’s 50-day moving average price is $8.71 and its two-hundred day moving average price is $9.23. The firm has a market cap of $38.29 billion and a P/E ratio of 7.70.
WEG Company Profile
WEG SA, trading in the U.S. over-the-counter as WEGZY, is a Brazilian multinational corporation specializing in the manufacture and distribution of electric motors, automation technologies and power generation equipment. The company’s portfolio spans low-, medium- and high-voltage electric machines, variable frequency drives and control systems designed for a wide array of industrial applications. WEG also offers transformer solutions and integrated automation products that support sectors including oil and gas, mining, pulp and paper, and infrastructure.
Founded in 1961 in Jaraguá do Sul, Brazil, WEG has grown from a small electric motor shop into one of the world’s largest industrial equipment manufacturers.
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