JPMorgan Chase & Co. Reiterates “Overweight” Rating for Weir Group (WEIR)
Weir Group (LON:WEIR)‘s stock had its “overweight” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a report issued on Friday. They currently have a GBX 2,185 ($29.63) price target on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 0.86% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Credit Suisse Group cut shares of Weir Group to a “neutral” rating and dropped their price objective for the stock from GBX 2,300 ($31.19) to GBX 2,200 ($29.83) in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a GBX 2,400 ($32.55) price objective on shares of Weir Group in a research report on Thursday, December 21st. Barclays restated an “overweight” rating and issued a GBX 2,350 ($31.87) price objective on shares of Weir Group in a research report on Monday, December 18th. Numis Securities restated a “hold” rating and issued a GBX 2,025 ($27.46) price objective on shares of Weir Group in a research report on Tuesday, December 5th. Finally, Deutsche Bank restated a “buy” rating and issued a GBX 2,220 ($30.11) price objective on shares of Weir Group in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 2,118.75 ($28.73).
Weir Group (WEIR) traded down GBX 8 ($0.11) during mid-day trading on Friday, reaching GBX 2,204 ($29.89). 2,326,152 shares of the company traded hands, compared to its average volume of 768,945. Weir Group has a 1 year low of GBX 1,696 ($23.00) and a 1 year high of GBX 2,326 ($31.54). The company has a market cap of $4,940.00 and a PE ratio of 7,346.67.
About Weir Group
The Weir Group PLC is a United Kingdom-based company, which is engaged in engineering businesses. The Company’s business operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.
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