The Weir Group (LON:WEIR) Stock Rating Lowered by Shore Capital

Key Points

• The Weir Group has been downgraded to a "hold" rating by Shore Capital, who also sets a price target of GBX 2,750 ($36.46) on the stock.
• The stock's current price is GBX 2,682 ($35.56), indicating a potential upside of 2.54% based on Shore Capital's price target.
• The company operates in two segments: Minerals and ESCO, producing highly engineered original equipment for mining and industrial applications.

The Weir Group (LON:WEIR - Get Free Report) was downgraded by Shore Capital to a "hold" rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a GBX 2,750 ($36.50) target price on the stock. Shore Capital's target price suggests a potential upside of 9.91% from the stock's previous close.

The Weir Group Stock Performance

Shares of WEIR stock traded down GBX 164 ($2.18) on Thursday, hitting GBX 2,502 ($33.21). The company's stock had a trading volume of 1,381,219 shares, compared to its average volume of 1,448,553. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The stock's 50 day moving average is GBX 2,523.23 and its 200-day moving average is GBX 2,385.22. The Weir Group has a fifty-two week low of GBX 1,832 ($24.32) and a fifty-two week high of GBX 2,710.66 ($35.98). The company has a market capitalization of £6.44 billion, a PE ratio of 29.40, a PEG ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported GBX 58.70 ($0.78) EPS for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. Equities research analysts expect that The Weir Group will post 136.0509554 earnings per share for the current fiscal year.

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.