The Weir Group (LON:WEIR) Given New GBX 2,300 Price Target at JPMorgan Chase & Co.

The Weir Group (LON:WEIR) had its price objective boosted by research analysts at JPMorgan Chase & Co. from GBX 2,075 ($27.01) to GBX 2,300 ($29.94) in a research note issued on Thursday,Digital Look reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.47% from the company’s current price.

A number of other research firms also recently weighed in on WEIR. Shore Capital reissued a “buy” rating on shares of The Weir Group in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their price objective 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. Finally, 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 note on Tuesday, August 6th.

The Weir Group Stock Performance

Shares of WEIR traded up GBX 69.69 ($0.91) during mid-day trading on Thursday, hitting GBX 2,201.69 ($28.66). The company’s stock had a trading volume of 2,052,660 shares, compared to its average volume of 1,006,755. The stock’s 50-day moving average is GBX 2,091.39 and its two-hundred day moving average is GBX 2,038.67. The company has a debt-to-equity ratio of 79.85, a quick ratio of 1.16 and a current ratio of 2.07. The firm has a market capitalization of £5.72 billion, a PE ratio of 2,590.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The Weir Group has a one year low of GBX 1,726 ($22.47) and a one year high of GBX 2,224 ($28.95).

Insider Activity at The Weir Group

In other news, insider Nick Anderson bought 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of GBX 1,959 ($25.50) per share, with a total value of £60,729 ($79,053.63). 0.31% of the stock is 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.