Weir Group PLC (WEIR) Downgraded by Morgan Stanley

Weir Group PLC (LON:WEIR) was downgraded by analysts at Morgan Stanley to an “equal weight” rating in a research note issued to investors on Wednesday, Marketbeat reports. They presently have a GBX 1,940 ($25.33) target price on the stock, down from their previous target price of GBX 2,100 ($27.42). Morgan Stanley’s price objective would suggest a potential upside of 1.57% from the stock’s previous close.

WEIR has been the subject of several other reports. Deutsche Bank AG restated a “buy” rating on shares of Weir Group PLC in a research report on Friday, May 5th. Canaccord Genuity raised their price objective on shares of Weir Group PLC from GBX 1,650 ($21.55) to GBX 1,800 ($23.50) and gave the stock a “sell” rating in a research report on Friday, April 28th. Investec restated a “sell” rating and set a GBX 1,600 ($20.89) price objective on shares of Weir Group PLC in a research report on Tuesday, June 13th. HSBC Holdings plc restated a “buy” rating and set a GBX 2,300 ($30.03) price objective on shares of Weir Group PLC in a research report on Thursday, April 6th. Finally, Citigroup Inc. initiated coverage on shares of Weir Group PLC in a research report on Tuesday, April 4th. They set a “buy” rating and a GBX 2,270 ($29.64) price objective for the company. Five analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Weir Group PLC has an average rating of “Hold” and a consensus target price of GBX 1,915.79 ($25.02).

Weir Group PLC (LON:WEIR) opened at 1901.00 on Wednesday. The company’s 50 day moving average is GBX 1,811.17 and its 200-day moving average is GBX 1,906.97. Weir Group PLC has a 1-year low of GBX 1,379.00 and a 1-year high of GBX 2,096.00. The stock’s market capitalization is GBX 4.14 billion.

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In other news, insider Jon Stanton sold 11,909 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of GBX 1,920 ($25.07), for a total value of £228,652.80 ($298,580.31).

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.