Watts Water Technologies, Inc. (NYSE:WTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Watts Water expects organic sales growth in the second half of 2017 to improve as compared with the first-half performance. In Americas, it anticipates consistent growth from relatively healthy end markets with AERCO. The company’s continuous focus on productivity and cost savings actions also remain tailwinds. The company has a positive record of earnings surprises in the last few quarters. Its estimates have mioved up lately. However, Watts Water's top line remains challenged by foreign-exchange headwinds. Also, raw material price inflation might impact margins in the upcoming quarters. Weak boiler demand and economic turmoil in Europe also remain headwinds. Moreover, its share price underperformed the industry in the past year.”

Several other equities research analysts also recently issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and set a $71.00 price target on shares of Watts Water Technologies in a report on Wednesday. Cowen and Company reaffirmed a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a report on Thursday, September 28th. Stifel Nicolaus assumed coverage on Watts Water Technologies in a report on Monday, September 18th. They set a “buy” rating and a $72.00 price target for the company. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Monday, September 18th. Finally, Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $70.83.

Watts Water Technologies (NYSE:WTS) traded up 0.14% during trading on Thursday, reaching $69.10. 91,686 shares of the company traded hands. The company’s 50-day moving average is $64.87 and its 200 day moving average is $63.32. The company has a market cap of $2.36 billion, a PE ratio of 26.99 and a beta of 1.08. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million during the quarter, compared to the consensus estimate of $379.51 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Watts Water Technologies will post $2.99 earnings per share for the current year.

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In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the sale, the insider now owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WTS. Riverhead Capital Management LLC lifted its holdings in shares of Watts Water Technologies by 44.3% during the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after buying an additional 532 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Watts Water Technologies by 157.1% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock worth $114,000 after buying an additional 1,100 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after buying an additional 17 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Watts Water Technologies during the second quarter worth $130,000. Finally, Bank of Montreal Can lifted its holdings in shares of Watts Water Technologies by 8.8% during the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock worth $138,000 after buying an additional 180 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

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Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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