Barclays Lowers Weir Group (WEIR) Price Target to GBX 1,900

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Weir Group (LON:WEIR) had its price objective lowered by Barclays from GBX 2,250 ($29.40) to GBX 1,900 ($24.83) in a research report report published on Friday. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on WEIR. Morgan Stanley raised shares of Weir Group to an overweight rating and dropped their price objective for the company from GBX 2,240 ($29.27) to GBX 2,120 ($27.70) in a research note on Thursday, September 20th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Weir Group in a research note on Thursday, August 23rd. HSBC reaffirmed a buy rating and issued a GBX 2,500 ($32.67) price objective on shares of Weir Group in a research note on Monday, October 8th. Royal Bank of Canada dropped their price objective on shares of Weir Group from GBX 2,600 ($33.97) to GBX 2,250 ($29.40) and set a top pick rating on the stock in a research note on Monday, September 24th. Finally, Jefferies Financial Group reaffirmed a hold rating on shares of Weir Group in a research note on Wednesday, September 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Weir Group currently has an average rating of Buy and a consensus price target of GBX 2,102.35 ($27.47).

LON WEIR traded up GBX 36.50 ($0.48) on Friday, hitting GBX 1,407 ($18.38). 2,065,331 shares of the company were exchanged, compared to its average volume of 1,360,000. Weir Group has a 12 month low of GBX 1,696 ($22.16) and a 12 month high of GBX 2,326 ($30.39).

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.

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