Weir Group PLC (LON:WEIR) was downgraded by Morgan Stanley to an “equal weight” rating in a research report issued to clients and investors on Wednesday, July 19th, MarketBeat.com reports. They currently have a GBX 1,940 ($25.18) target price on the stock, down from their previous target price of GBX 2,100 ($27.26). Morgan Stanley’s target price suggests a potential upside of 11.49% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. J P Morgan Chase & Co reissued an “overweight” rating on shares of Weir Group PLC in a research report on Monday, June 19th. HSBC Holdings plc restated a “buy” rating and issued a GBX 2,300 ($29.86) target price on shares of Weir Group PLC in a report on Thursday, April 6th. Deutsche Bank AG restated a “buy” rating on shares of Weir Group PLC in a report on Friday, May 5th. Citigroup Inc. reiterated a “buy” rating and set a GBX 2,270 ($29.47) price objective on shares of Weir Group PLC in a research note on Friday, April 28th. Finally, Barclays PLC reiterated an “overweight” rating and set a GBX 2,300 ($29.86) price objective on shares of Weir Group PLC in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Weir Group PLC has an average rating of “Hold” and an average price target of GBX 2,001.76 ($25.99).
Shares of Weir Group PLC (LON:WEIR) traded down 0.40% during mid-day trading on Wednesday, reaching GBX 1733.00. The company’s stock had a trading volume of 475,050 shares. Weir Group PLC has a one year low of GBX 1,479.00 and a one year high of GBX 2,096.00. The firm’s 50 day moving average is GBX 1,818.03 and its 200 day moving average is GBX 1,887.26. The firm’s market cap is GBX 3.78 billion.
In other Weir Group PLC news, insider Jon Stanton sold 11,909 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of GBX 1,920 ($24.93), for a total transaction of £228,652.80 ($296,836.04).
Weir Group PLC Company Profile
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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