$364.10 Million in Sales Expected for Watts Water Technologies Inc (WTS) This Quarter

Wall Street analysts expect that Watts Water Technologies Inc (NYSE:WTS) will report sales of $364.10 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Watts Water Technologies’ earnings. The highest sales estimate is $373.40 million and the lowest is $358.00 million. Watts Water Technologies posted sales of $342.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The company is scheduled to announce its next earnings results after the market closes on Monday, February 12th.

According to Zacks, analysts expect that Watts Water Technologies will report full year sales of $364.10 million for the current year, with estimates ranging from $1.45 billion to $1.46 billion. For the next year, analysts forecast that the firm will post sales of $1.51 billion per share, with estimates ranging from $1.50 billion to $1.54 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Watts Water Technologies.

WTS has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Monday, January 22nd. Northcoast Research set a $90.00 target price on shares of Watts Water Technologies and gave the stock a “buy” rating in a report on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Watts Water Technologies in a report on Tuesday, January 16th. Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a report on Monday, November 20th. Finally, Robert W. Baird increased their target price on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $79.17.

Shares of Watts Water Technologies (NYSE WTS) opened at $74.60 on Thursday. 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 12-month low of $59.15 and a 12-month high of $82.35. The stock has a market cap of $2,620.86, a price-to-earnings ratio of 27.63, a PEG ratio of 1.89 and a beta of 1.13.

In other Watts Water Technologies news, insider Elie Melhem sold 2,545 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the completion of the sale, the chief executive officer now owns 137,474 shares of the company’s stock, valued at approximately $10,108,463.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,348 shares of company stock valued at $1,339,628. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of Watts Water Technologies by 4.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 185,077 shares of the technology company’s stock valued at $12,808,000 after purchasing an additional 7,582 shares during the period. OxFORD Asset Management LLP raised its position in shares of Watts Water Technologies by 18.5% in the third quarter. OxFORD Asset Management LLP now owns 41,871 shares of the technology company’s stock valued at $2,903,000 after purchasing an additional 6,526 shares during the period. Wells Fargo & Company MN raised its position in shares of Watts Water Technologies by 37.5% in the third quarter. Wells Fargo & Company MN now owns 41,400 shares of the technology company’s stock valued at $2,864,000 after purchasing an additional 11,289 shares during the period. Palisade Capital Management LLC NJ raised its position in shares of 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 period. Finally, Guyasuta Investment Advisors Inc. raised its position in shares of Watts Water Technologies by 10.6% in the third quarter. Guyasuta Investment Advisors Inc. now owns 20,800 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 2,000 shares during the period. 77.75% of the stock is currently owned by institutional investors.

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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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Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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