The Weir Group (LON:WEIR) Stock Rating Upgraded by Panmure Gordon

Key Points

• Panmure Gordon upgraded The Weir Group to a "Buy" with a GBX 3,490 target, implying about a 37.36% upside from the company's current price.
• Analyst support is broad (eight Buys, one Hold) with a consensus price target of GBX 3,479.78, while the stock opened at GBX 2,540.75 (trading down ~4.3%), market cap £6.60bn and a P/E of 26.72.
• Insider Jon Stanton sold 25,580 shares at GBX 3,098 (≈£792,468), and corporate insiders own about 0.70% of the company.

The Weir Group (LON:WEIR - Get Free Report) was upgraded by equities researchers at Panmure Gordon to a "buy" rating in a report issued on Friday,London Stock Exchange reports. The firm presently has a GBX 3,490 target price on the stock. Panmure Gordon's target price would suggest a potential upside of 37.36% from the company's current price.

A number of other analysts have also recently commented on the stock. Shore Capital Group reiterated a "hold" rating on shares of The Weir Group in a research note on Thursday. Citigroup cut their price target on shares of The Weir Group from GBX 3,550 to GBX 3,500 and set a "buy" rating for the company in a research note on Monday, April 13th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 3,705 price target on shares of The Weir Group in a research note on Thursday. Royal Bank Of Canada reiterated a "buy" rating and issued a GBX 4,000 price target on shares of The Weir Group in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of The Weir Group from GBX 3,450 to GBX 3,800 and gave the company a "buy" rating in a research note on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 3,479.78.

The Weir Group Trading Down 4.3%

The Weir Group stock opened at GBX 2,540.75 on Friday. The company has a market cap of £6.60 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 2.59 and a beta of 1.17. The company has a debt-to-equity ratio of 93.56, a current ratio of 2.05 and a quick ratio of 1.16. The firm has a 50-day moving average of GBX 3,015.38 and a 200-day moving average of GBX 2,996.43. The Weir Group has a one year low of GBX 2,274 and a one year high of GBX 3,580.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported GBX 123.80 EPS for the quarter. The Weir Group had a net margin of 9.63% and a return on equity of 13.42%. On average, equities analysts expect that The Weir Group will post 136.0509554 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jon Stanton sold 25,580 shares of the firm's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of GBX 3,098, for a total transaction of £792,468.40. Corporate insiders own 0.70% of the company's stock.

The Weir Group Company Profile

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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