Royal Bank of Canada Forecasts Strong Price Appreciation for The Weir Group (LON:WEIR) Stock

The Weir Group (LON:WEIR) had its target price increased by analysts at Royal Bank of Canada from GBX 2,500 ($31.98) to GBX 2,700 ($34.54) in a research report issued on Monday,Digital Look reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 12.53% from the stock’s previous close.

Separately, JPMorgan Chase & Co. raised their price target on The Weir Group from GBX 2,075 ($26.54) to GBX 2,300 ($29.42) and gave the stock an “overweight” rating in a report on Thursday, November 7th.

The Weir Group Trading Down 2.6 %

LON:WEIR opened at GBX 2,399.32 ($30.69) on Monday. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30. The business’s 50 day moving average is GBX 2,299.05 and its two-hundred day moving average is GBX 2,181.14. The Weir Group has a 52 week low of GBX 1,832 ($23.44) and a 52 week high of GBX 2,474.24 ($31.65). The company has a market cap of £6.18 billion, a PE ratio of 28.19, a P/E/G ratio of 2.59 and a beta of 1.41.

The Weir Group (LON:WEIR) last announced its quarterly earnings results on Friday, February 28th. The company reported GBX 120 ($1.54) earnings per share (EPS) for the quarter. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%. On average, analysts predict that The Weir Group will post 136.0509554 EPS for the current year.

Insider Buying and Selling

In other The Weir Group news, insider Brian Puffer sold 9,794 shares of The Weir Group stock in a transaction on Friday, February 28th. The stock was sold at an average price of GBX 2,414 ($30.88), for a total transaction of £236,427.16 ($302,452.55). Company insiders own 0.31% of the company’s stock.

The Weir Group Company Profile

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.