JPMorgan Chase & Co. Raises The Weir Group (LON:WEIR) Price Target to GBX 2,300

The Weir Group (LON:WEIR - Get Free Report) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from GBX 2,075 ($27.01) to GBX 2,300 ($29.94) in a note issued to investors on Thursday,Digital Look reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 4.47% from the company's current price.

Several other equities research analysts have also commented on WEIR. Shore Capital restated a "buy" rating on shares of The Weir Group in a report on Tuesday, August 20th. Berenberg Bank dropped their target price on The Weir Group from GBX 2,600 ($33.85) to GBX 2,450 ($31.89) and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their price objective on shares of The Weir Group from GBX 2,475 ($32.22) to GBX 2,500 ($32.54) and gave the company an "outperform" rating in a research report on Wednesday, July 31st.

The Weir Group Price Performance

LON WEIR traded up GBX 69.69 ($0.91) during trading on Thursday, reaching GBX 2,201.69 ($28.66). The company's stock had a trading volume of 2,052,660 shares, compared to its average volume of 1,006,755. The stock has a market capitalization of £5.72 billion, a PE ratio of 2,590.23, a P/E/G ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 79.85, a current ratio of 2.07 and a quick ratio of 1.16. The Weir Group has a one year low of GBX 1,726 ($22.47) and a one year high of GBX 2,224 ($28.95). The firm has a fifty day moving average of GBX 2,091.39 and a 200 day moving average of GBX 2,038.67.

Insider Activity at The Weir Group

In related news, insider Nick Anderson bought 3,100 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of GBX 1,959 ($25.50) per share, with a total value of £60,729 ($79,053.63). 0.31% of the stock is owned by corporate insiders.

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.

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