Watts Water Technologies (NYSE:WTS) has been assigned a $90.00 price objective by equities research analysts at Northcoast Research in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the technology company’s stock. Northcoast Research’s price objective points to a potential upside of 11.80% from the company’s previous close.
Several other analysts have also recently issued reports on WTS. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Cowen restated a “hold” rating and set a $58.00 target price on shares of Watts Water Technologies in a research report on Thursday, September 28th. KeyCorp reissued a “hold” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Seaport Global Securities reissued a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a research report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.33.
Shares of Watts Water Technologies (NYSE WTS) opened at $80.50 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2,748.91, a PE ratio of 29.81, a PEG ratio of 2.00 and a beta of 1.16. Watts Water Technologies has a 1 year low of $59.15 and a 1 year high of $80.55.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $347.70 million for the quarter, compared to analysts’ expectations of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. sell-side analysts anticipate that Watts Water Technologies will post 3.01 earnings per share for the current fiscal year.
In other Watts Water Technologies news, insider Elie Melhem sold 2,545 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.48, for a total value of $179,371.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $73.53, for a total transaction of $871,477.56. Following the completion of the transaction, the chief executive officer now owns 137,474 shares in the company, valued at $10,108,463.22. The disclosure for this sale can be found here. Insiders sold a total of 18,348 shares of company stock worth $1,339,628 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC grew its stake in Watts Water Technologies by 44.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after acquiring an additional 532 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Watts Water Technologies by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. Quantbot Technologies LP grew its stake in Watts Water Technologies by 823.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock worth $144,000 after acquiring an additional 2,035 shares in the last quarter. Ballentine Partners LLC bought a new position in Watts Water Technologies in the 3rd quarter worth about $200,000. Finally, Suntrust Banks Inc. grew its stake in Watts Water Technologies by 1.0% in the 2nd quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 77.68% of the company’s stock.
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Watts Water Technologies Company Profile
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.