Weir Group (WEIR) Given “Buy” Rating at Peel Hunt

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Weir Group (LON:WEIR)‘s stock had its “buy” rating restated by equities researchers at Peel Hunt in a research report issued on Thursday. They currently have a GBX 2,450 ($31.60) target price on the stock. Peel Hunt’s target price would suggest a potential upside of 47.99% from the stock’s current price.

A number of other equities research analysts have also issued reports on WEIR. Deutsche Bank reiterated a “buy” rating on shares of Weir Group in a research note on Tuesday, May 15th. Barclays upgraded Weir Group to a “top pick” rating and set a GBX 2,600 ($33.54) price target for the company in a research note on Tuesday, May 15th. BNP Paribas downgraded shares of Weir Group to a “neutral” rating in a report on Wednesday, May 23rd. Liberum Capital reissued a “buy” rating on shares of Weir Group in a report on Friday, June 8th. Finally, Citigroup increased their price objective on shares of Weir Group from GBX 2,500 ($32.25) to GBX 2,675 ($34.51) and gave the company a “buy” rating in a report on Monday, June 11th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 2,334.47 ($30.11).

Shares of WEIR stock opened at GBX 1,655.50 ($21.36) on Thursday. Weir Group has a 52-week low of GBX 1,696 ($21.88) and a 52-week high of GBX 2,326 ($30.01).

Weir Group (LON:WEIR) last issued its quarterly earnings results on Tuesday, July 31st. The company reported GBX 46.30 ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of GBX 48.20 ($0.62) by GBX (1.90) (($0.02)). Weir Group had a return on equity of 6.86% and a net margin of 4.24%.

In other Weir Group news, insider JIm McDonald purchased 500 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was purchased at an average price of GBX 1,979 ($25.53) per share, with a total value of £9,895 ($12,764.45).

Weir Group Company Profile

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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Analyst Recommendations for Weir Group (LON:WEIR)

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