Weir Group (WEIR) Stock Rating Upgraded by Morgan Stanley
Morgan Stanley upgraded shares of Weir Group (LON:WEIR) to an overweight rating in a research report report published on Thursday. The firm currently has GBX 2,120 ($27.61) target price on the stock, down from their previous target price of GBX 2,240 ($29.18).
A number of other research firms also recently issued reports on WEIR. BNP Paribas downgraded shares of Weir Group to a neutral rating in a research note on Wednesday, May 23rd. Liberum Capital reaffirmed a buy rating on shares of Weir Group in a research note on Friday, June 8th. Citigroup upped their price target on shares of Weir Group from GBX 2,500 ($32.56) to GBX 2,675 ($34.84) and gave the company a buy rating in a research note on Monday, June 11th. Barclays upped their price target on shares of Weir Group from GBX 2,350 ($30.61) to GBX 2,600 ($33.87) and gave the company an overweight rating in a research note on Monday, June 18th. Finally, HSBC upped their price target on shares of Weir Group from GBX 2,300 ($29.96) to GBX 2,700 ($35.17) and gave the company a buy rating in a research note on Wednesday, July 11th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of GBX 2,297.11 ($29.92).
Shares of LON:WEIR opened at GBX 1,780 ($23.19) on Thursday. Weir Group has a fifty-two week low of GBX 1,696 ($22.09) and a fifty-two week high of GBX 2,326 ($30.30).
The company also recently announced a dividend, which will be paid on Friday, November 2nd. Stockholders of record on Thursday, October 11th will be paid a GBX 15.75 ($0.21) dividend. This represents a dividend yield of 0.82%. The ex-dividend date is Thursday, October 11th.
About Weir Group
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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