Watts Water Technologies, Inc. (WTS) Upgraded at Zacks Investment Research
Watts Water Technologies, Inc. (NYSE:WTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $79.00 target price on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.98% from the company’s current price.
According to Zacks, “Watts Water expects organic sales growth in the second half of 2017 to improve as compared with the first-half performance on the back of improved market conditions, product introductions and geographic expansion. In Americas, it anticipates consistent growth from relatively healthy end markets with AERCO. Watts Water continues to drive various transformation programs and investing in higher margin growth businesses. The company’s constant focus on productivity, acquisition strategy and cost savings actions also remain tailwinds. Watts Water's estimates have been undergoing positive revisions over the past two months. The company has a positive record of earnings surprises in recent quarters.”
WTS has been the subject of several other reports. BidaskClub downgraded shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Stifel Nicolaus began coverage on Watts Water Technologies in a research report on Monday, September 18th. They set a “buy” rating and a $72.00 price target on the stock. Cowen and Company reaffirmed a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Watts Water Technologies has an average rating of “Hold” and a consensus price target of $70.80.
Watts Water Technologies (NYSE WTS) traded down 2.34% during midday trading on Tuesday, hitting $68.90. 34,912 shares of the stock were exchanged. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05. The company has a market cap of $2.36 billion, a PE ratio of 26.91 and a beta of 1.07. The firm’s 50 day moving average price is $64.63 and its 200 day moving average price is $63.23.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $378.50 million for the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, equities research analysts forecast that Watts Water Technologies will post $2.99 earnings per share for the current fiscal year.
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In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the sale, the insider now owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of WTS. Public Employees Retirement System of Ohio grew its stake in Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after purchasing an additional 17 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Watts Water Technologies in the second quarter valued at about $300,000. Piedmont Investment Advisors LLC acquired a new position in shares of Watts Water Technologies in the second quarter valued at about $381,000. Dean Capital Management acquired a new position in shares of Watts Water Technologies in the second quarter valued at about $2,005,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Watts Water Technologies in the second quarter valued at about $323,000. 77.64% of the stock is owned by institutional investors.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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