Barclays Lowers Weir Group (WEIR) Price Target to GBX 2,400

Weir Group (LON:WEIR) had its price objective dropped by Barclays from GBX 2,500 ($32.67) to GBX 2,400 ($31.36) in a research note issued to investors on Tuesday. The firm presently has an “overweight” rating on the stock. Barclays’ price target would indicate a potential upside of 44.01% from the company’s previous close.

Several other brokerages have also issued reports on WEIR. Liberum Capital restated a “buy” rating on shares of Weir Group in a report on Monday, July 2nd. Credit Suisse Group upgraded shares of Weir Group to an “outperform” rating and set a GBX 2,200 ($28.75) price objective on the stock in a report on Tuesday, August 21st. UBS Group started coverage on shares of Weir Group in a report on Friday, September 7th. They issued a “buy” rating and a GBX 2,400 ($31.36) price objective on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Weir Group in a report on Thursday, August 23rd. Finally, Deutsche Bank restated a “buy” rating on shares of Weir Group in a report on Friday, September 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Weir Group currently has an average rating of “Buy” and an average price target of GBX 2,271.94 ($29.69).

Shares of WEIR stock opened at GBX 1,666.50 ($21.78) on Tuesday. Weir Group has a twelve month low of GBX 1,696 ($22.16) and a twelve month high of GBX 2,326 ($30.39).

Weir Group (LON:WEIR) last announced its quarterly earnings results on Tuesday, July 31st. The company reported GBX 46.30 ($0.60) earnings per share for the quarter, missing the consensus estimate of GBX 48.20 ($0.63) by GBX (1.90) (($0.02)). Weir Group had a net margin of 4.24% and a return on equity of 6.86%.

Weir Group Company Profile

The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.

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Analyst Recommendations for Weir Group (LON:WEIR)

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