Credit Suisse Group AG Begins Coverage on Weir Group PLC (WEIR)

Credit Suisse Group AG assumed coverage on shares of Weir Group PLC (LON:WEIR) in a research note released on Tuesday. The brokerage issued an outperform rating and a GBX 1,800 ($23.50) price target on the stock.

Analyst Recommendations for Weir Group PLC (LON:WEIR)

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. raised Weir Group PLC to an overweight rating and increased their target price for the stock from GBX 1,220 ($15.92) to GBX 1,775 ($23.17) in a report on Monday. Goldman Sachs Group Inc. reduced their target price on Weir Group PLC from GBX 1,750 ($22.84) to GBX 1,576 ($20.57) and set a buy rating on the stock in a report on Wednesday, September 7th. HSBC increased their target price on Weir Group PLC from GBX 1,500 ($19.58) to GBX 1,750 ($22.84) and gave the stock a buy rating in a report on Tuesday, August 16th. Numis Securities Ltd reissued a hold rating and set a GBX 1,400 ($18.27) target price on shares of Weir Group PLC in a report on Friday, August 12th. Finally, Jefferies Group reissued an underweight rating and set a GBX 1,220 ($15.92) target price on shares of Weir Group PLC in a report on Monday, August 8th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of GBX 1,305.06 ($17.04).

Shares of Weir Group PLC (LON:WEIR) opened at 1597.00 on Tuesday. The stock has a 50 day moving average price of GBX 1,545.41 and a 200-day moving average price of GBX 1,316.49. The company’s market capitalization is GBX 3.42 billion. Weir Group PLC has a 52 week low of GBX 764.50 and a 52 week high of GBX 1,646.00.

The firm also recently announced a dividend, which will be paid on Friday, November 4th. Shareholders of record on Thursday, September 22nd will be issued a GBX 15 ($0.20) dividend. The ex-dividend date is Thursday, September 22nd. This represents a yield of 1.03%.

About Weir Group PLC

The Weir Group PLC is engaged in engineering businesses. The Company operates through three segments: Minerals, Oil & Gas, and Power & Industrial. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.

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