Pentair (NYSE:PNR) Stock Gets Price Target Cut from Royal Bank Of Canada

Pentair (NYSE:PNR) had its price target dropped by investment analysts at Royal Bank Of Canada from $73.00 to $61.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 17.67% from the stock’s current price.

PNR has been the subject of a number of other research reports. Weiss Ratings lowered Pentair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. William Blair set a $50.00 target price on Pentair in a research note on Wednesday. Jefferies Financial Group upgraded Pentair to a “strong-buy” rating in a research note on Wednesday, October 7th. Wolfe Research raised Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Tuesday, September 15th. Finally, Citigroup reduced their price target on Pentair from $85.00 to $69.00 and set a “buy” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Pentair has an average rating of “Hold” and an average target price of $80.76.

Pentair Stock Performance

Shares of Pentair stock traded down $1.13 during trading on Wednesday, hitting $51.84. 199,683 shares of the company’s stock were exchanged, compared to its average volume of 2,421,547. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.33 and a beta of 1.04. The business has a 50-day simple moving average of $59.07 and a 200-day simple moving average of $70.46. Pentair has a 52-week low of $51.13 and a 52-week high of $112.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The company had revenue of $932.60 million for the quarter, compared to analyst estimates of $943.24 million. The firm’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 earnings per share. On average, research analysts forecast that Pentair will post 4.64 EPS for the current year.

Institutional Trading of Pentair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new position in Pentair in the second quarter valued at $244,000. Alan B Lancz & Associates Inc. acquired a new position in shares of Pentair in the second quarter worth about $43,000. Wedmont Private Capital acquired a new position in shares of Pentair in the second quarter worth about $56,000. HB Wealth Management LLC acquired a new position in shares of Pentair in the second quarter worth about $91,000. Finally, Saudi Central Bank purchased a new stake in shares of Pentair during the 2nd quarter worth about $141,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.