Weir Group (OTCMKTS:WEGRY) Shares Gap Down – What’s Next?

Shares of Weir Group (OTCMKTS:WEGRY) gapped down before the market opened on Thursday. The stock had previously closed at $18.72, but opened at $17.85. Weir Group shares last traded at $17.7560, with a volume of 833 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on WEGRY shares. Jefferies Financial Group restated a “buy” rating on shares of Weir Group in a research report on Wednesday, August 19th. Citigroup reiterated a “buy” rating on shares of Weir Group in a research report on Thursday, July 30th. Finally, Kepler Capital Markets raised Weir Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Weir Group Price Performance

The business’s 50 day moving average is $18.43 and its 200 day moving average is $18.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.05 and a quick ratio of 1.30.

About Weir Group

Weir Group plc is a Glasgow, Scotland-based engineering company that supplies equipment, technology and services to the global mining industry. Its products are designed to support key stages of mineral processing, including crushing, grinding, classification, slurry handling, dewatering and tailings management.

The company operates primarily through its Weir Minerals and Weir ESCO businesses. Weir Minerals provides pumps, valves, crushers, screens, hydrocyclones, mill liners and other processing equipment, while Weir ESCO supplies ground-engaging tools and related products for surface mining and construction equipment.