Weir Group (WEIR) Price Target Cut to GBX 2,500
Weir Group (LON:WEIR) had its target price dropped by analysts at Citigroup from GBX 2,600 ($33.87) to GBX 2,500 ($32.56) in a research note issued on Friday, September 7th. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 51.33% from the company’s current price.
WEIR has been the topic of several other reports. Barclays raised shares of Weir Group to a “top pick” rating and set a GBX 2,600 ($33.87) target price on the stock in a report on Tuesday, May 15th. Deutsche Bank reiterated a “buy” rating on shares of Weir Group in a research report on Tuesday, May 15th. Liberum Capital reiterated a “buy” rating on shares of Weir Group in a research report on Friday, June 8th. Numis Securities reiterated a “hold” rating and set a GBX 2,100 ($27.35) price target on shares of Weir Group in a research report on Wednesday, August 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Weir Group in a research report on Thursday, August 23rd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Weir Group presently has a consensus rating of “Buy” and a consensus target price of GBX 2,297.63 ($29.93).
LON WEIR traded up GBX 64 ($0.83) on Friday, reaching GBX 1,652 ($21.52). The company had a trading volume of 2,659,674 shares, compared to its average volume of 1,360,000. Weir Group has a 1-year low of GBX 1,696 ($22.09) and a 1-year high of GBX 2,326 ($30.30).
In other news, insider JIm McDonald purchased 500 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were acquired at an average cost of GBX 1,979 ($25.78) per share, for a total transaction of £9,895 ($12,889.15).
About Weir Group
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.
Further Reading: Moving Average (MA)
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