The Weir Group PLC (OTCMKTS:WEGRY – Get Rating) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 800 shares, a drop of 63.6% from the April 30th total of 2,200 shares. Based on an average trading volume of 106,500 shares, the short-interest ratio is presently 0.0 days.
A number of equities research analysts have commented on the company. HSBC raised The Weir Group from a “hold” rating to a “buy” rating in a research note on Friday, March 11th. Berenberg Bank reduced their price objective on The Weir Group from GBX 2,240 ($28.19) to GBX 2,190 ($27.56) in a research note on Friday, March 18th. Zacks Investment Research upgraded The Weir Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Morgan Stanley raised their target price on The Weir Group from GBX 2,150 ($27.05) to GBX 2,160 ($27.18) in a report on Thursday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on The Weir Group from GBX 1,915 ($24.10) to GBX 2,020 ($25.42) in a report on Friday, April 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Weir Group currently has an average rating of “Buy” and a consensus target price of $1,706.60.
Shares of The Weir Group stock opened at $9.60 on Thursday. The business’s fifty day simple moving average is $10.26 and its 200 day simple moving average is $11.21. The Weir Group has a 12 month low of $8.61 and a 12 month high of $14.73. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.
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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