Jefferies Financial Group Reaffirms "Buy" Rating for The Weir Group (LON:WEIR)

Key Points

• Jefferies Financial Group reaffirmed a “Buy” rating on The Weir Group and set a GBX 3,555 price target, implying 31.67% upside from the previous close.
• Analyst sentiment remains positive, with eight Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” and the average target price is GBX 3,435.33.
• The shares opened at GBX 2,700, while The Weir Group reported quarterly EPS of GBX 54.60, a 9.63% net margin, and a 13.42% return on equity.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Jefferies Financial Group in a research note issued on Wednesday,Digital Look reports. They presently have a GBX 3,555 price objective on the stock. Jefferies Financial Group's target price indicates a potential upside of 31.67% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of The Weir Group to a "buy" rating in a research report on Friday, July 10th. Panmure Gordon raised shares of The Weir Group to a "buy" rating and set a GBX 3,490 price target on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Finally, Shore Capital Group reissued a "hold" rating on shares of The Weir Group in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 3,435.33.

The Weir Group Price Performance

Shares of LON:WEIR opened at GBX 2,700 on Wednesday. The Weir Group has a twelve month low of GBX 2,254 and a twelve month high of GBX 3,580. The stock's 50 day moving average is GBX 2,435.61 and its 200-day moving average is GBX 2,823.47. The company has a quick ratio of 1.16, a current ratio of 2.05 and a debt-to-equity ratio of 93.56. The firm has a market capitalization of £7.01 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.59 and a beta of 1.07.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported GBX 54.60 EPS for the quarter. The Weir Group had a net margin of 9.63% and a return on equity of 13.42%. Sell-side analysts forecast that The Weir Group will post 136.0509554 EPS for the current fiscal year.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.