Shore Capital Group Reiterates Hold Rating for The Weir Group (LON:WEIR)

Key Points

• Shore Capital Group reiterated a Hold rating for The Weir Group, while seven other analysts maintain Buy ratings and MarketBeat shows a consensus of Moderate Buy with a target price of GBX 3,478.50.
• The stock traded down to GBX 2,636 on Thursday—below its 50‑day and 200‑day moving averages (~GBX 3,034 and GBX 2,999)—with a market capitalization of £6.84 billion and a P/E of 27.72.
• Insider Jon Stanton sold 25,580 shares at an average price of GBX 3,098 on April 20, and insiders now own 0.70% of the company.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Shore Capital Group in a research note issued on Thursday,Digital Look reports.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a GBX 3,705 price target on shares of The Weir Group in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of The Weir Group from GBX 3,450 to GBX 3,800 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Royal Bank Of Canada reiterated a "buy" rating and issued a GBX 4,000 price target on shares of The Weir Group in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of The Weir Group from GBX 3,280 to GBX 3,723 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Citigroup cut their price target on shares of The Weir Group from GBX 3,550 to GBX 3,500 and set a "buy" rating for the company in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 3,478.50.

The Weir Group Stock Performance

LON:WEIR traded down GBX 128 during trading hours on Thursday, reaching GBX 2,636. 7,289,586 shares of the company's stock were exchanged, compared to its average volume of 12,150,263. The firm has a market capitalization of £6.84 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.59 and a beta of 1.17. The company has a 50-day moving average of GBX 3,034.23 and a 200 day moving average of GBX 2,999.84. 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 1-year low of GBX 2,244 and a 1-year high of GBX 3,580.

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

Insider Buying and Selling

In related news, insider Jon Stanton sold 25,580 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total value of £792,468.40. 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.

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.