ISI Group Upgrades Watts Water Technologies to “Buy” (WTS)
Watts Water Technologies (NYSE:WTS) was upgraded by research analysts at ISI Group from a “hold” rating to a “buy” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $65.00 price objective on the stock. ISI Group’s price target would indicate a potential upside of 11.02% from the stock’s previous close.
Shares of Watts Water Technologies (NYSE:WTS) opened at 58.55 on Friday. Watts Water Technologies has a 1-year low of $44.05 and a 1-year high of $62.66. The stock’s 50-day moving average is $55. and its 200-day moving average is $57.81. The company has a market cap of $2.059 billion and a P/E ratio of 36.34.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Tuesday, April 29th. The company reported $0.55 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.59 by $0.04. The company had revenue of $365.20 million for the quarter, compared to the consensus estimate of $374.71 million. During the same quarter last year, the company posted $0.49 earnings per share. Watts Water Technologies’s revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Watts Water Technologies will post $2.70 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on WTS. Analysts at KeyCorp upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $65.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, May 23rd. They now have a $57.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Watts Water Technologies to $48.00 in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $62.20.
Watts Water Technologies, Inc (NYSE:WTS)is a supplier of products for use in the water quality, water safety, water flow control and water conservation markets in both North America and Europe with a presence in Asia.
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