Watts Water Technologies (WTS) Upgraded at Zacks Investment Research

Watts Water Technologies (NYSE:WTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $90.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.80% from the company’s current price.

According to Zacks, “The continued execution of key strategic initiatives, including the transformation and restructuring actions undertaken by Watts Water will benefit fourth-quarter earnings. Watts Water expects organic sales growth rate to improve on a sequential basis driven by consistent growth in Americas from relatively healthy end markets. Europe and Asia-Pacific are also likely to improve over third-quarter levels. The company will also gain from its buyouts and new product development strategies.”

WTS has been the subject of a number of other research reports. Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a research report on Monday, November 20th. 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. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of Watts Water Technologies in a research report on Thursday, December 14th. Robert W. Baird restated a “hold” rating and set a $71.00 target price on shares of Watts Water Technologies in a research report on Wednesday, October 4th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $79.17.

Shares of Watts Water Technologies (NYSE WTS) traded up $1.65 on Monday, reaching $80.50. The company’s stock had a trading volume of 85,900 shares, compared to its average volume of 67,515. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Watts Water Technologies has a 52-week low of $59.15 and a 52-week high of $80.55. The company has a market cap of $2,750.00, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The firm had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts forecast that Watts Water Technologies will post 3.01 EPS for the current fiscal year.

In related news, CEO Robert J. Pagano, Jr. sold 3,951 shares of Watts Water Technologies stock in a transaction on Monday, December 11th. The stock was sold at an average price of $73.09, for a total transaction of $288,778.59. Following the completion of the sale, the chief executive officer now directly owns 137,474 shares of the company’s stock, valued at $10,047,974.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of Watts Water Technologies stock in a transaction on Friday, December 8th. The stock was sold at an average price of $73.53, for a total value of $871,477.56. Following the sale, the chief executive officer now directly owns 137,474 shares of the company’s stock, valued at $10,108,463.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,348 shares of company stock valued at $1,339,628. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake 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 purchasing an additional 17 shares during the period. AQR Capital Management LLC grew its stake in shares of Watts Water Technologies by 0.3% during the fourth quarter. AQR Capital Management LLC now owns 7,500 shares of the technology company’s stock worth $489,000 after purchasing an additional 19 shares during the period. Suntrust Banks Inc. grew its stake in shares of Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after purchasing an additional 31 shares during the period. State of Alaska Department of Revenue grew its stake in Watts Water Technologies by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,070 shares of the technology company’s stock valued at $191,000 after acquiring an additional 50 shares during the period. Finally, Manchester Capital Management LLC grew its stake in Watts Water Technologies by 0.5% in the second quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock valued at $698,000 after acquiring an additional 50 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

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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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