Barclays Trims Weir Group (WEIR) Target Price to GBX 2,250
Weir Group (LON:WEIR) had its price target trimmed by Barclays from GBX 2,400 ($31.36) to GBX 2,250 ($29.40) in a research note released on Wednesday. The brokerage currently has an overweight rating on the stock.
Several other analysts also recently issued reports on the stock. Morgan Stanley raised shares of Weir Group to an overweight rating and cut their target price for the company from GBX 2,240 ($29.27) to GBX 2,120 ($27.70) in a research note on Thursday, September 20th. JPMorgan Chase & Co. reissued an overweight rating on shares of Weir Group in a research note on Thursday, August 23rd. HSBC reissued a buy rating and set a GBX 2,500 ($32.67) target price on shares of Weir Group in a research note on Monday, October 8th. Jefferies Financial Group reissued a hold rating on shares of Weir Group in a research note on Wednesday, September 5th. Finally, Royal Bank of Canada cut their target price on shares of Weir Group from GBX 2,600 ($33.97) to GBX 2,250 ($29.40) and set a top pick rating on the stock in a research note on Monday, September 24th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of GBX 2,154.71 ($28.16).
LON:WEIR traded down GBX 36 ($0.47) during trading hours on Wednesday, hitting GBX 1,550.50 ($20.26). 2,285,314 shares of the stock traded hands, compared to its average volume of 1,360,000. Weir Group has a fifty-two week low of GBX 1,696 ($22.16) and a fifty-two week high of GBX 2,326 ($30.39).
The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.
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