Watts Water Technologies (WTS) Stock Rating Upgraded by Janney Montgomery Scott

Watts Water Technologies (NYSE:WTS) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

A number of other brokerages have also recently weighed in on WTS. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Monday, January 22nd. Northcoast Research set a $90.00 price target on shares of Watts Water Technologies and gave the company a “buy” rating in a research report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. TheStreet cut shares of Watts Water Technologies from a “b+” rating to a “c+” rating in a research report on Monday. Finally, Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $78.17.

Shares of Watts Water Technologies (WTS) opened at $75.60 on Wednesday. Watts Water Technologies has a 1 year low of $59.15 and a 1 year high of $82.35. The firm has a market cap of $2,526.95, a price-to-earnings ratio of 24.50, a P/E/G ratio of 1.79 and a beta of 1.13. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.64 earnings per share. Watts Water Technologies’s quarterly revenue was up 7.1% compared to the same quarter last year. equities analysts predict that Watts Water Technologies will post 3.44 EPS for the current year.

In other news, CEO Robert J. Pagano, Jr. sold 3,951 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $73.09, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $179,371.60. The disclosure for this sale can be found here. Insiders sold 18,348 shares of company stock valued at $1,339,628 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Watts Water Technologies in the fourth quarter valued at about $112,000. Public Employees Retirement System of Ohio raised its holdings in shares of Watts Water Technologies by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after buying an additional 17 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Watts Water Technologies in the third quarter valued at about $200,000. Suntrust Banks Inc. raised its holdings 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 buying an additional 31 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Watts Water Technologies in the second quarter valued at about $215,000. 78.21% 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.

The Fly

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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