Watts Water Technologies (WTS) Earns Buy Rating from Stifel Nicolaus

Watts Water Technologies (NYSE:WTS)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $90.00 target price on the technology company’s stock, down from their prior target price of $95.00. Stifel Nicolaus’ price target would indicate a potential upside of 18.66% from the stock’s current price.

Several other brokerages have also recently issued reports on WTS. Seaport Global Securities reissued a “neutral” rating on shares of Watts Water Technologies in a report on Friday, November 3rd. Robert W. Baird raised 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. Zacks Investment Research raised 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. Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a report on Thursday, November 2nd. Finally, Janney Montgomery Scott raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $78.00.

Shares of Watts Water Technologies (WTS) traded up $0.25 during trading on Wednesday, hitting $75.85. 222,881 shares of the company traded hands, compared to its average volume of 123,541. 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 capitalization of $2,526.95, a PE ratio of 35.85, a PEG ratio of 1.79 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Watts Water Technologies had a net margin of 5.02% and a return on equity of 13.07%. The firm had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $365.35 million. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. analysts predict that Watts Water Technologies will post 3.44 earnings per share for the current fiscal year.

In related news, CEO Robert J. Pagano, Jr. sold 11,852 shares of the firm’s 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 sale, the chief executive officer now owns 137,474 shares in the company, valued at $10,108,463.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elie Melhem sold 2,545 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,348 shares of company stock worth $1,339,628. 1.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in WTS. Teachers Advisors LLC grew its position in Watts Water Technologies by 5.2% during the second quarter. Teachers Advisors LLC now owns 49,559 shares of the technology company’s stock valued at $3,132,000 after buying an additional 2,463 shares during the period. Nationwide Fund Advisors grew its position in Watts Water Technologies by 0.8% during the second quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock valued at $1,103,000 after buying an additional 131 shares during the period. New York State Common Retirement Fund grew its position in Watts Water Technologies by 4.9% during the second quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock valued at $1,877,000 after buying an additional 1,399 shares during the period. California Public Employees Retirement System grew its position in Watts Water Technologies by 4.7% during the second quarter. California Public Employees Retirement System now owns 73,000 shares of the technology company’s stock valued at $4,614,000 after buying an additional 3,300 shares during the period. Finally, Suntrust Banks Inc. grew its position in shares of Watts Water Technologies by 1.0% in the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after purchasing an additional 31 shares during the period. Institutional investors own 78.21% 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.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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