The Weir Group (LON:WEIR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for The Weir Group from GBX 2,950 to GBX 3,300, indicating a potential upside of 17.86% from its current price and maintaining an "overweight" rating.
• Other analysts, including Citigroup and Deutsche Bank, have issued positive ratings, with target prices of GBX 3,100 and GBX 3,010, respectively, while the consensus rating remains a "Moderate Buy."
• The Weir Group's stock is currently priced at GBX 2,800, reflecting a recent increase of 0.7%, with a strong market capitalization of £7.27 billion.

The Weir Group (LON:WEIR - Get Free Report) had its price objective lifted by research analysts at JPMorgan Chase & Co. from GBX 2,950 to GBX 3,300 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 17.86% from the company's current price.

Other research analysts have also issued research reports about the stock. Citigroup reaffirmed a "buy" rating and set a GBX 3,100 target price on shares of The Weir Group in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Weir Group from GBX 2,710 to GBX 3,010 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Shore Capital cut shares of The Weir Group to a "hold" rating and set a GBX 2,750 price target on the stock. in a research report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,972.

The Weir Group Trading Up 0.7%

WEIR stock traded up GBX 20 during mid-day trading on Wednesday, hitting GBX 2,800. 2,443,416 shares of the company were exchanged, compared to its average volume of 1,552,800. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30. The firm has a market capitalization of £7.27 billion, a P/E ratio of 2,360.88, a PEG ratio of 2.59 and a beta of 1.41. The business has a fifty day simple moving average of GBX 2,570.31 and a 200-day simple moving average of GBX 2,454.16. The Weir Group has a 12-month low of GBX 1,875 and a 12-month high of GBX 2,860.

The Weir Group (LON:WEIR - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported GBX 58.70 earnings per share for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. On average, equities research analysts predict 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.

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