JPMorgan Chase & Co. Increases The Weir Group (LON:WEIR) Price Target to GBX 2,300

The Weir Group (LON:WEIR) had its price objective boosted by JPMorgan Chase & Co. from GBX 2,075 ($27.01) to GBX 2,300 ($29.94) in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Berenberg Bank dropped their price target on The Weir Group from GBX 2,600 ($33.85) to GBX 2,450 ($31.89) and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Shore Capital restated a “buy” rating on shares of The Weir Group in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target on The Weir Group from GBX 2,475 ($32.22) to GBX 2,500 ($32.54) and gave the company an “outperform” rating in a research report on Wednesday, July 31st.

The Weir Group Stock Performance

Shares of WEIR stock opened at GBX 2,166 ($28.20) on Thursday. The stock has a market capitalization of £5.62 billion, a PE ratio of 2,548.24, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The Weir Group has a 52-week low of GBX 1,756 ($22.86) and a 52-week high of GBX 2,224 ($28.95). The stock’s 50-day moving average price is GBX 2,098.59 and its 200 day moving average price is GBX 2,041.58. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 79.85.

Insiders Place Their Bets

In other The Weir Group news, insider Nick Anderson bought 3,100 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of GBX 1,959 ($25.50) per share, for a total transaction of £60,729 ($79,053.63). 0.31% of the stock is currently owned by insiders.

About The Weir Group

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.