Watts Water Technologies, Inc. (NYSE:WTS) had its price target raised by equities researchers at Robert W. Baird from $71.00 to $76.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.27% from the company’s current price.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday, October 3rd. BidaskClub lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Stifel Nicolaus assumed coverage on shares of Watts Water Technologies in a research note on Monday, September 18th. They set a “buy” rating and a $72.00 target price on the stock. Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a research note on Thursday. Finally, Cowen and Company restated a “hold” rating and set a $58.00 target price on shares of Watts Water Technologies in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $72.83.

Shares of Watts Water Technologies (WTS) traded up $2.65 on Friday, hitting $69.55. 162,508 shares of the stock traded hands, compared to its average volume of 111,208. The company has a quick ratio of 1.59, a current ratio of 2.57 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2,377.78, a price-to-earnings ratio of 23.82, a PEG ratio of 1.95 and a beta of 1.12.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The firm had revenue of $347.70 million for the quarter, compared to analyst estimates of $361.22 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. sell-side analysts predict that Watts Water Technologies will post 3.01 earnings per share for the current fiscal year.

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In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the transaction, the insider now directly owns 32,128 shares in the company, valued at $1,995,470.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Watts Water Technologies by 39.4% in the third quarter. BNP Paribas Arbitrage SA now owns 15,734 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 4,451 shares during the last quarter. Jennison Associates LLC purchased a new position in Watts Water Technologies in the third quarter valued at approximately $620,000. Keybank National Association OH increased its stake in Watts Water Technologies by 20.8% in the third quarter. Keybank National Association OH now owns 17,400 shares of the technology company’s stock valued at $1,204,000 after purchasing an additional 3,000 shares during the last quarter. Palisade Capital Management LLC NJ increased its stake in Watts Water Technologies by 10.5% in the third quarter. Palisade Capital Management LLC NJ now owns 201,205 shares of the technology company’s stock valued at $13,923,000 after purchasing an additional 19,179 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new position in Watts Water Technologies in the third quarter valued at approximately $302,000. Institutional investors own 77.62% of the company’s stock.

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.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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