The Weir Group (LON:WEIR) Price Target Lowered to GBX 3,250 at Citigroup

Key Points

• Citigroup lowered its price target on The Weir Group from GBX 3,500 to GBX 3,250, while keeping a buy rating on the stock. The new target still implies about 32.44% upside from the current price.
• Analyst sentiment remains broadly positive: 8 analysts rate the stock Buy and 1 rates it Hold, giving Weir a consensus Moderate Buy with an average target price of GBX 3,452.
• The shares opened at GBX 2,454, below both the 50-day and 200-day moving averages, and the company recently reported earnings of GBX 123.80 EPS for the quarter. Insider activity also included a sale by CEO Jon Stanton of 25,580 shares in April.

The Weir Group (LON:WEIR - Get Free Report) had its target price cut by investment analysts at Citigroup from GBX 3,500 to GBX 3,250 in a research report issued on Monday,London Stock Exchange reports. The firm presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 32.44% from the company's current price.

WEIR has been the topic of a number of other reports. Shore Capital Group reaffirmed a "hold" rating on shares of The Weir Group in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on The Weir Group from GBX 3,450 to GBX 3,800 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Royal Bank Of Canada reaffirmed a "buy" rating and issued a GBX 4,000 price objective on shares of The Weir Group in a research note on Thursday, March 5th. Panmure Gordon raised The Weir Group to a "buy" rating and set a GBX 3,490 price objective on the stock in a research note on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 3,705 price objective on shares of The Weir Group in a research note 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of GBX 3,452.

The Weir Group Stock Performance

Shares of WEIR stock opened at GBX 2,454 on Monday. The business's 50-day moving average price is GBX 2,959.86 and its 200-day moving average price is GBX 2,993.21. The Weir Group has a 12 month low of GBX 2,274 and a 12 month high of GBX 3,580. The firm has a market capitalization of £6.37 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 2.59 and a beta of 1.09. The company has a current ratio of 2.05, a quick ratio of 1.16 and a debt-to-equity ratio of 93.56.

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

Insiders Place Their Bets

In other The Weir Group news, insider Jon Stanton sold 25,580 shares of The Weir Group stock in a transaction that occurred on Monday, April 20th. The stock was 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.

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