Citigroup Issues Positive Forecast for The Weir Group (LON:WEIR) Stock Price

The Weir Group (LON:WEIR) had its price objective hoisted by analysts at Citigroup from GBX 3,300 to GBX 3,700 in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 9.53% from the company’s current price.

Several other brokerages also recently commented on WEIR. Deutsche Bank Aktiengesellschaft boosted their target price on The Weir Group from GBX 3,140 to GBX 3,280 and gave the stock a “buy” rating in a research note on Monday, January 12th. Peel Hunt restated a “buy” rating and issued a GBX 3,000 target price on shares of The Weir Group in a report on Wednesday, November 5th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 3,175 price target on shares of The Weir Group in a report on Thursday, November 6th. Shore Capital reissued a “hold” rating and issued a GBX 2,750 price objective on shares of The Weir Group in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Weir Group from GBX 3,300 to GBX 3,450 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 3,243.57.

The Weir Group Stock Performance

WEIR traded up GBX 24 during trading on Thursday, hitting GBX 3,378. The stock had a trading volume of 1,631,946 shares, compared to its average volume of 6,499,515. The company has a 50 day moving average price of GBX 2,974.49 and a 200-day moving average price of GBX 2,786.01. The Weir Group has a one year low of GBX 1,875 and a one year high of GBX 3,400. The firm has a market cap of £8.77 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16.

The Weir Group Company Profile

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. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based Artificial Intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.