Posted by admin on May 12th, 2022

Zacks Investment Research downgraded shares of The Weir Group (OTCMKTS:WEGRY – Get Rating) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “The Weir Group PLC provides engineering solutions. The company’s operating segment consists of Minerals, Oil & Gas and Flow Control. Oil & Gas segment provides products and service solutions to upstream, production, transportation, refining and related industries. Flow Control segment designs and manufactures valves and pumps. Minerals segment offers provision of slurry handling equipment and associated aftermarket support. It also provides specialist support services to the global power generation, industrial and oil and gas sectors. The Weir Group PLC is headquartered in Glasgow, the United Kingdom. “

Several other research firms have also recently weighed in on WEGRY. JPMorgan Chase & Co. upped their price target on shares of The Weir Group from GBX 1,915 ($23.61) to GBX 2,020 ($24.90) in a report on Friday, April 29th. HSBC upgraded The Weir Group from a hold rating to a buy rating in a research note on Friday, March 11th. Morgan Stanley lifted their price target on The Weir Group from GBX 2,150 ($26.51) to GBX 2,160 ($26.63) in a research report on Thursday, January 27th. Finally, Berenberg Bank decreased their price objective on shares of The Weir Group from GBX 2,240 ($27.62) to GBX 2,190 ($27.00) in a research report on Friday, March 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $1,706.60.

The Weir Group stock opened at $8.61 on Wednesday. The Weir Group has a one year low of $8.61 and a one year high of $14.73. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $10.69 and a 200-day moving average price of $11.41.

The business also recently disclosed a dividend, which will be paid on Thursday, June 9th. Shareholders of record on Friday, April 22nd will be given a dividend of $0.0652 per share. This represents a yield of 1.27%. The ex-dividend date is Thursday, April 21st.

The Weir Group Company Profile (Get Rating)

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers slurry handling equipment and associated aftermarket support services for abrasive high-wear applications used in the mining and oil sands markets.

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