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

Key Points

• Citigroup has reaffirmed its "buy" rating for The Weir Group (LON:WEIR) and set a target price of GBX 3,100 ($41.16), indicating a potential upside of 24.7% from the company's previous close.
• Other analysts' ratings vary, with Shore Capital downgrading the stock to a "hold" rating and Deutsche Bank raising its target from GBX 2,710 ($35.98) to GBX 3,010 ($39.97) while maintaining a "buy" rating."
• The Weir Group reported earnings of GBX 58.70 ($0.78) per share for the last quarter, and it has a current consensus rating of "Moderate Buy" from analysts.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "buy" rating reiterated by Citigroup in a research report issued on Monday, MarketBeat.com reports. They presently have a GBX 3,100 ($41.69) price target on the stock. Citigroup's price target would indicate a potential upside of 24.40% from the company's current price.

Other analysts also recently issued reports about the stock. Shore Capital downgraded shares of The Weir Group to a "hold" rating and set a GBX 2,750 ($36.98) price objective on the stock. in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Weir Group from GBX 2,710 ($36.44) to GBX 3,010 ($40.48) and gave the company a "buy" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 2,772 ($37.28).

The Weir Group Stock Up 0.3%

WEIR stock traded up GBX 8 ($0.11) during trading on Monday, hitting GBX 2,492 ($33.51). 340,727 shares of the stock traded hands, compared to its average volume of 1,430,316. The Weir Group has a 1 year low of GBX 1,875 ($25.22) and a 1 year high of GBX 2,710.66 ($36.45). The firm's 50 day moving average is GBX 2,531.93 and its two-hundred day moving average is GBX 2,390.63. The stock has a market cap of £6.42 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported GBX 58.70 ($0.79) EPS for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. On average, sell-side analysts anticipate that The Weir Group will post 136.0509554 EPS for the current 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.