Barclays Boosts Watts Water Technologies (NYSE:WTS) Price Target to $300.00

Watts Water Technologies (NYSE:WTS) had its target price boosted by Barclays from $287.00 to $300.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price would indicate a potential upside of 9.76% from the company’s current price.

Several other research firms have also recently weighed in on WTS. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a report on Friday, August 8th. Weiss Ratings restated a “buy (b+)” rating on shares of Watts Water Technologies in a research report on Tuesday, October 14th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $264.25.

Watts Water Technologies Price Performance

Watts Water Technologies stock traded up $9.77 during trading hours on Friday, reaching $273.32. 146,625 shares of the stock were exchanged, compared to its average volume of 190,777. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a twelve month low of $177.59 and a twelve month high of $287.89. The company has a market cap of $9.12 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 3.27 and a beta of 1.17. The stock has a 50 day moving average of $277.72 and a two-hundred day moving average of $257.30.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. The company had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.Watts Water Technologies’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. Watts Water Technologies has set its FY 2025 guidance at EPS. Equities analysts expect that Watts Water Technologies will post 9.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director directly owned 1,194 shares in the company, valued at $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Watts Water Technologies

A number of large investors have recently made changes to their positions in WTS. Principal Financial Group Inc. lifted its holdings in Watts Water Technologies by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company’s stock worth $15,938,000 after purchasing an additional 795 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Watts Water Technologies during the 1st quarter valued at approximately $259,000. GSA Capital Partners LLP bought a new stake in shares of Watts Water Technologies in the 1st quarter worth about $802,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of Watts Water Technologies by 18.5% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock worth $19,164,000 after purchasing an additional 12,148 shares during the period. Finally, Alps Advisors Inc. grew its holdings in Watts Water Technologies by 6.9% during the 1st quarter. Alps Advisors Inc. now owns 37,872 shares of the technology company’s stock valued at $7,723,000 after purchasing an additional 2,448 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.