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

Key Points

• Citigroup downgraded The Weir Group to a “buy” rating in a report released Friday, despite broader analyst sentiment still leaning positive.
• Other firms remain constructive on the stock: JPMorgan raised its target to GBX 3,800 with an “overweight” rating, while Jefferies and Panmure Gordon also reiterated or initiated buy ratings. Overall, the company has eight Buy ratings and one Hold, with a consensus target price of GBX 3,452.
• The Weir Group’s shares recently opened at GBX 2,368.03, below both the 50-day and 200-day moving averages, and the stock has traded between a 1-year low of GBX 2,254 and a high of GBX 3,580.

The Weir Group (LON:WEIR - Get Free Report) was downgraded by analysts at Citigroup to a "buy" rating in a report released on Friday,London Stock Exchange reports.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on The Weir Group from GBX 3,500 to GBX 3,800 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Shore Capital Group restated a "hold" rating on shares of The Weir Group in a research report on Thursday, April 30th. Panmure Gordon upgraded shares of The Weir Group to a "buy" rating and set a GBX 3,490 price objective on the stock in a report on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 3,705 price target on shares of The Weir Group in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, The Weir Group currently has an average rating of "Moderate Buy" and a consensus target price of GBX 3,452.

The Weir Group Price Performance

Shares of The Weir Group stock opened at GBX 2,368.03 on Friday. 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 firm has a fifty day simple moving average of GBX 2,444.02 and a 200-day simple moving average of GBX 2,858.76. The stock has a market capitalization of £6.15 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.59 and a beta of 1.07. The Weir Group has a 1-year low of GBX 2,254 and a 1-year high of GBX 3,580.

Insider Activity

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 stock was sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Insiders own 0.73% 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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