Numis Securities Ltd Downgrades Weir Group PLC (WEIR) to Hold
Weir Group PLC (LON:WEIR) was downgraded by analysts at Numis Securities Ltd to a “hold” rating in a note issued to investors on Wednesday. They currently have a GBX 2,025 ($26.72) target price on the stock. Numis Securities Ltd’s price target suggests a potential upside of 3.69% from the company’s current price.
Several other research analysts have also recently weighed in on the company. BNP Paribas reiterated an “outperform” rating and set a GBX 2,300 ($30.35) price objective on shares of Weir Group PLC in a research report on Tuesday, July 18th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Weir Group PLC in a research report on Monday, July 24th. Deutsche Bank AG reiterated a “buy” rating and set a GBX 2,220 ($29.30) price objective on shares of Weir Group PLC in a research report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 2,200 ($29.03) price objective on shares of Weir Group PLC in a research report on Wednesday, July 19th. Finally, Canaccord Genuity upgraded Weir Group PLC to a “buy” rating and set a GBX 2,000 ($26.39) price objective on the stock in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of GBX 2,027.65 ($26.76).
Shares of Weir Group PLC (LON WEIR) opened at 1969.00 on Wednesday. Weir Group PLC has a one year low of GBX 1,514.98 and a one year high of GBX 2,154.00. The firm has a 50-day moving average of GBX 1,950.76 and a 200 day moving average of GBX 1,870.04. The company’s market cap is GBX 4.29 billion.
In other Weir Group PLC news, insider Christopher Morgan sold 464 shares of Weir Group PLC stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of GBX 1,824 ($24.07), for a total value of £8,463.36 ($11,168.33).
About Weir Group PLC
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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