Weir Group (LON:WEIR) Receives a Downgrade
Just today Weir Group (LON:WEIR) has been downgraded by investment advisers working for HSBC to a solid Reduce rating. This was announced in a a recent report distributed on Tuesday morning. The firm presently has a GBX 1000.00 target PPS on shares. HSBC’s target PPS would indicate a possible downside of -13.57%.
From a total of 23 analysts covering Weir Group PLC (LON:WEIR) stock, 4 rate it a ”Buy”, 4 a “Sell”, and 14 a ”Hold”. This means that 18% of the ratings are positive. The highest target price is GBX 1600 while the lowest target price is GBX 875. The mean of all analyst targets is GBX 1240 with a 10.45% above today’s (GBX 1173.31) stock price. Weir Group PLC was the topic of 66 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 1 with “Sector Perform” rating. Deutsche Bank upgraded shares to “Buy” rating and GBX 1360 target share price in a report from a November 13. Nomura maintained WEIR stock in a recent report from November 20 with “Neutral” rating. Citigroup downgraded the rating on November 6. Citigroup has a “Neutral” rating and a GBX 1200 price target on shares. Finally, Liberum Capital maintained the stock with “Sell” rating in a report issued on a November 13.
The stock decreased 2.39% or GBX 28.69 on December 1, striking GBX 1173.31. Approximately 737,737 shares of stock traded hands. Weir Group PLC (LON:WEIR) has declined 36.23% since May 4, 2015 and is downtrending. It has underperformed by 34.61% the S&P500.
The Weir Group PLC is engaged in engineering businesses. The company has a market cap of 2.48 billion GBP. The Firm operates in three business divisions: Minerals, Oil & Gas and Power & Industrial. It currently has negative earnings. The Company’s 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.