Citigroup Boosts The Weir Group (LON:WEIR) Price Target to GBX 3,700

The Weir Group (LON:WEIR) had its price target boosted by stock analysts at Citigroup from GBX 3,300 to GBX 3,700 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 9.53% from the company’s current price.

A number of other brokerages have also issued reports on WEIR. Deutsche Bank Aktiengesellschaft boosted their target price on The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research report on Monday, January 12th. Berenberg Bank lifted their price objective on The Weir Group from GBX 2,700 to GBX 3,350 and gave the company a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the company an “overweight” rating in a report on Thursday, December 4th. Peel Hunt reaffirmed a “buy” rating and set a GBX 3,000 target price on shares of The Weir Group in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 3,175 price target on shares of The Weir Group in a research report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, The Weir Group currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,243.57.

The Weir Group Stock Performance

Shares of WEIR traded up GBX 24 during mid-day trading on Thursday, reaching GBX 3,378. 1,631,946 shares of the company’s stock traded hands, compared to its average volume of 6,499,515. The Weir Group has a 12 month low of GBX 1,875 and a 12 month high of GBX 3,400. The business’s 50-day moving average price is GBX 2,974.49 and its 200-day moving average price is GBX 2,786.01. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The stock has a market capitalization of £8.77 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41.

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.