Watts Water Technologies (NYSE:WTS) had its target price raised by Stifel Nicolaus from $88.00 to $95.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the technology company’s stock.
WTS has been the topic of several other research reports. Janney Montgomery Scott lowered shares of Watts Water Technologies from a buy rating to a neutral rating and lifted their price target for the stock from $81.00 to $83.00 in a research report on Monday, February 11th. Oppenheimer restated a hold rating on shares of Watts Water Technologies in a research report on Monday, February 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Watts Water Technologies currently has a consensus rating of Hold and a consensus target price of $89.50.
Shares of NYSE:WTS opened at $85.73 on Tuesday. Watts Water Technologies has a 12 month low of $61.17 and a 12 month high of $93.35. The company has a market cap of $2.91 billion, a P/E ratio of 22.92, a PEG ratio of 2.06 and a beta of 1.21. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $387.60 million for the quarter, compared to analyst estimates of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. As a group, analysts anticipate that Watts Water Technologies will post 4.07 earnings per share for the current fiscal year.
In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 10,142 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $79.57, for a total transaction of $806,998.94. Following the transaction, the insider now directly owns 2,358 shares in the company, valued at approximately $187,626.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Munish Nanda sold 11,059 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $79.32, for a total transaction of $877,199.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,055 shares of company stock worth $5,707,415. 0.75% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in Watts Water Technologies during the 1st quarter worth approximately $32,000. FMR LLC grew its position in Watts Water Technologies by 70.0% during the 4th quarter. FMR LLC now owns 425 shares of the technology company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. We Are One Seven LLC purchased a new position in Watts Water Technologies during the 4th quarter worth approximately $32,000. Quantamental Technologies LLC purchased a new position in Watts Water Technologies during the 4th quarter worth approximately $52,000. Finally, Clean Yield Group purchased a new position in Watts Water Technologies during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 77.56% 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. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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