HSBC Holdings plc Reaffirms “Buy” Rating for Weir Group PLC (WEIR)
Weir Group PLC (LON:WEIR)‘s stock had its “buy” rating restated by equities researchers at HSBC Holdings plc in a report released on Friday. They presently have a GBX 2,300 ($30.93) price target on the stock. HSBC Holdings plc’s price target would suggest a potential upside of 17.05% from the company’s previous close.
Several other brokerages also recently weighed in on WEIR. Credit Suisse Group reissued an “outperform” rating and issued a GBX 2,200 ($29.59) price target on shares of Weir Group PLC in a report on Wednesday, July 19th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Weir Group PLC in a report on Monday, June 19th. Citigroup Inc. reissued a “buy” rating and issued a GBX 2,395 ($32.21) price target on shares of Weir Group PLC in a report on Monday, June 26th. Deutsche Bank AG reissued a “buy” rating and issued a GBX 2,220 ($29.85) price target on shares of Weir Group PLC in a report on Monday, August 7th. Finally, BNP Paribas reissued an “outperform” rating and issued a GBX 2,300 ($30.93) price target on shares of Weir Group PLC in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of GBX 2,016.76 ($27.12).
Weir Group PLC (WEIR) opened at 1955.00 on Friday. The firm has a 50-day moving average price of GBX 1,787.03 and a 200-day moving average price of GBX 1,854.13. Weir Group PLC has a 12 month low of GBX 1,514.98 and a 12 month high of GBX 2,096.00. The stock’s market cap is GBX 4.26 billion.
In related news, insider Christopher Morgan sold 464 shares of Weir Group PLC stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of GBX 1,824 ($24.53), for a total transaction of £8,463.36 ($11,381.60).
About Weir Group PLC
The Weir Group PLC is a United Kingdom-based company, which is engaged in engineering businesses. The Company’s business operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.
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