Watts Water Technologies (NYSE:WTS) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.
A number of other research analysts also recently issued reports on WTS. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a research report on Monday. Boenning Scattergood restated a “hold” rating on shares of Watts Water Technologies in a research report on Monday, November 5th. Finally, Seaport Global Securities upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $90.80.
WTS opened at $81.79 on Monday. Watts Water Technologies has a fifty-two week low of $61.17 and a fifty-two week high of $93.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.25 and a current ratio of 2.07. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.23.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.72%. The firm had revenue of $387.60 million for the quarter, compared to analyst estimates of $382.33 million. During the same period in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies will post 4.11 EPS for the current fiscal year.
In other news, insider Elie Melhem sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $74.42, for a total value of $74,420.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. We Are One Seven LLC acquired a new position in shares of Watts Water Technologies during the 4th quarter valued at $32,000. Quantamental Technologies LLC acquired a new position in shares of Watts Water Technologies during the 4th quarter valued at $52,000. Clean Yield Group acquired a new position in shares of Watts Water Technologies during the 4th quarter valued at $88,000. Whittier Trust Co. acquired a new position in shares of Watts Water Technologies during the 4th quarter valued at $90,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Watts Water Technologies during the 3rd quarter valued at $135,000. Institutional investors own 78.42% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
Further Reading: Quick Ratio
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