Posted by admin on May 6th, 2022

Zacks Investment Research cut shares of The Weir Group (OTCMKTS:WEGRY – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Thursday, 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. “

WEGRY has been the topic of a number of other reports. HSBC raised shares of The Weir Group from a hold rating to a buy rating in a research note on Friday, March 11th. Morgan Stanley boosted their price target on shares of The Weir Group from GBX 2,150 ($26.86) to GBX 2,160 ($26.98) in a research note on Thursday, January 27th. Berenberg Bank reduced their price target on shares of The Weir Group from GBX 2,240 ($27.98) to GBX 2,190 ($27.36) in a research note on Friday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Weir Group from GBX 1,915 ($23.92) to GBX 2,020 ($25.23) in a research note on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $1,706.60.

Shares of WEGRY stock opened at $9.13 on Thursday. 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 firm’s 50-day moving average is $10.83 and its two-hundred day moving average is $11.49. The Weir Group has a 12 month low of $9.05 and a 12 month high of $14.73.

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

About The Weir Group (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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