Waters (NYSE:WAT) Cut to Underperform at Cleveland Research

Waters (NYSE:WAT) was downgraded by stock analysts at Cleveland Research from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, The Fly reports.

A number of other analysts have also issued reports on WAT. Zacks Investment Research lowered shares of Waters from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 12th. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They issued an “underperform” rating for the company. UBS Group decreased their price objective on Waters from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Barclays decreased their price objective on Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Finally, ValuEngine downgraded Waters from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $208.71.

Shares of WAT opened at $207.89 on Wednesday. The firm has a market cap of $14.50 billion, a PE ratio of 25.08, a P/E/G ratio of 2.20 and a beta of 1.08. Waters has a 12-month low of $167.93 and a 12-month high of $255.21. The company has a quick ratio of 2.89, a current ratio of 3.44 and a debt-to-equity ratio of 1.15.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.13). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $545.82 million. Waters had a net margin of 24.59% and a return on equity of 39.64%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 earnings per share. Analysts predict that Waters will post 9.11 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in WAT. Athena Capital Advisors LLC bought a new position in Waters in the fourth quarter worth about $28,000. Lindbrook Capital LLC acquired a new position in shares of Waters during the fourth quarter valued at about $41,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Waters during the first quarter valued at about $43,000. Van ECK Associates Corp increased its holdings in shares of Waters by 33.8% during the fourth quarter. Van ECK Associates Corp now owns 297 shares of the medical instruments supplier’s stock valued at $56,000 after acquiring an additional 75 shares in the last quarter. Finally, Enlightenment Research LLC acquired a new position in shares of Waters during the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.

About Waters

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

Further Reading: Return On Assets

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