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

Key Points

• Jefferies reiterated a Buy rating on The Weir Group and set a GBX 3,705 target price, implying roughly a 40.6% upside from the recent close.
• Broader analyst coverage shows seven Buys and one Hold with an average price target of GBX 3,478.50, giving the stock an overall "Moderate Buy" consensus.
• The shares recently traded at GBX 2,636 (down GBX 128), the company has a market cap of £6.84bn and a P/E of 27.72, and insider Jon Stanton sold 25,580 shares at GBX 3,098.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Jefferies Financial Group in a note issued to investors on Thursday,Digital Look reports. They presently have a GBX 3,705 target price on the stock. Jefferies Financial Group's price objective points to a potential upside of 40.55% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Shore Capital Group reissued a "hold" rating on shares of The Weir Group in a research note on Wednesday, March 4th. Citigroup reduced their target price on The Weir Group from GBX 3,550 to GBX 3,500 and set a "buy" rating on the stock in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their target price on 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. JPMorgan Chase & Co. raised their price objective on The Weir Group from GBX 3,450 to GBX 3,800 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and set a GBX 4,000 price objective on shares of The Weir Group in a research note on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, The Weir Group has an average rating of "Moderate Buy" and an average price target of GBX 3,478.50.

The Weir Group Price Performance

Shares of WEIR stock traded down GBX 128 on Thursday, reaching GBX 2,636. The company's stock had a trading volume of 7,289,586 shares, compared to its average volume of 12,150,263. 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 Weir Group has a 12-month low of GBX 2,244 and a 12-month high of GBX 3,580. The company has a market capitalization of £6.84 billion, a P/E ratio of 27.72, a PEG ratio of 2.59 and a beta of 1.17. The stock's 50 day simple moving average is GBX 3,034.23 and its 200-day simple moving average is GBX 2,999.84.

The Weir Group (LON:WEIR - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported GBX 123.80 earnings per share (EPS) for the quarter. The Weir Group had a return on equity of 13.42% and a net margin of 9.63%. As a group, equities analysts predict that The Weir Group will post 136.0509554 earnings per share for the current fiscal year.

Insider Buying and Selling at The Weir Group

In other news, insider Jon Stanton sold 25,580 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Corporate insiders own 0.70% 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.

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