Watts Water Technologies, Inc. (WTS) Receives “Buy” Rating from Stifel Nicolaus
Watts Water Technologies, Inc. (NYSE:WTS)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research report issued on Friday. They presently have a $79.00 price target on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 13.59% from the company’s current price.
Several other research analysts have also commented on WTS. Robert W. Baird lifted their price target on Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday. Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a research report on Thursday. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Monday, September 18th. Cowen and Company reiterated a “hold” rating and issued a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Finally, BidaskClub lowered Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $72.83.
Shares of Watts Water Technologies (NYSE WTS) traded up $2.65 during trading on Friday, hitting $69.55. The stock had a trading volume of 162,508 shares, compared to its average volume of 111,208. The stock has a market cap of $2,406.83, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.59.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.03. The firm had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. equities research analysts expect that Watts Water Technologies will post 2.97 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 that occurred on Friday, August 25th. The shares were 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 is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Watts Water Technologies by 39.4% during the third quarter. BNP Paribas Arbitrage SA now owns 15,734 shares of the technology company’s stock valued at $1,089,000 after acquiring an additional 4,451 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Watts Water Technologies during the third quarter valued at approximately $620,000. Keybank National Association OH raised its stake in shares of Watts Water Technologies by 20.8% during the third quarter. Keybank National Association OH now owns 17,400 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 3,000 shares in the last quarter. Palisade Capital Management LLC NJ raised 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 worth $13,923,000 after buying an additional 19,179 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in Watts Water Technologies in the third quarter worth approximately $302,000. 77.62% of the stock is owned by hedge funds and other 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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