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

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

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

The Weir Group Price Performance

WEIR stock opened at GBX 2,399.32 ($30.69) on Monday. The company has a debt-to-equity ratio of 80.30, a quick ratio of 1.16 and a current ratio of 2.07. The Weir Group has a 1 year low of GBX 1,832 ($23.44) and a 1 year high of GBX 2,474.24 ($31.65). The firm has a market cap of £6.18 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The stock has a 50-day simple moving average of GBX 2,299.05 and a 200-day simple moving average of GBX 2,181.14.

The Weir Group (LON:WEIR) last posted its 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, equities analysts predict that The Weir Group will post 136.0509554 earnings per share for the current fiscal year.

Insider Buying and Selling at The Weir Group

In other The Weir Group news, insider Brian Puffer sold 9,794 shares of the stock in a transaction that occurred 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). 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.