The Weir Group (LON:WEIR) Stock Rating Reaffirmed as "Buy" by Jefferies Financial Group

Key Points

• Jefferies reaffirmed its Buy rating on The Weir Group and set a GBX 3,735 target price, implying 54.88% upside from the previous close.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one Hold, for a consensus Moderate Buy rating and average target of GBX 3,428.33.
• The shares fell 8.3%; insider Nick Anderson also bought 1,470 shares at GBX 2,713 each.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday, Digital Look reports. They presently have a GBX 3,735 target price on the stock. Jefferies Financial Group's target price suggests a potential upside of 54.88% from the company's previous close.

WEIR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 3,230 price target on shares of The Weir Group in a research note on Thursday, July 30th. Berenberg Bank restated a "buy" rating and issued a GBX 3,650 price objective on shares of The Weir Group in a research note on Wednesday, August 5th. Finally, Citigroup raised their price objective on 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. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 3,428.33.

The Weir Group Trading Down 8.3%

Shares of The Weir Group stock opened at GBX 2,411.60 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.16 and a debt-to-equity ratio of 91.54. The company has a fifty day simple moving average of GBX 2,662 and a 200-day simple moving average of GBX 2,767.85. The stock has a market cap of £6.26 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.59 and a beta of 1.09. The Weir Group has a 12-month low of GBX 2,254 and a 12-month high of GBX 3,580.

Insider Buying and Selling

In other news, insider Nick Anderson acquired 1,470 shares of The Weir Group stock in a transaction on Monday, August 17th. The stock was bought at an average price of GBX 2,713 per share, for a total transaction of £39,881.10. 0.74% of the stock is currently 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.

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