Mizuho Has Lowered Expectations for Pentair (NYSE:PNR) Stock Price

Key Points

• Mizuho cut Pentair’s price target from $85 to $65 while maintaining an “outperform” rating, implying roughly 24.8% upside from the prior close.
• Analyst sentiment is mixed: Pentair has an overall “Hold” consensus rating and a consensus price target of $79.59, with recent targets ranging from $50 to $91.
• Pentair’s latest quarterly results slightly exceeded EPS expectations but missed revenue estimates, with revenue falling 17% year over year; the stock opened at $52.09 and remains near its 12-month low.

Pentair (NYSE:PNR - Get Free Report) had its price target lowered by research analysts at Mizuho from $85.00 to $65.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Mizuho's price target indicates a potential upside of 24.79% from the company's previous close.

Several other brokerages also recently weighed in on PNR. William Blair set a $50.00 price target on Pentair in a report on Wednesday. Zacks Research upgraded Pentair from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 7th. Seaport Research Partners downgraded shares of Pentair from a "buy" rating to a "neutral" rating in a report on Wednesday, July 15th. Wolfe Research upgraded shares of Pentair from a "peer perform" rating to an "outperform" rating and set a $91.00 price objective on the stock in a report on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $81.00 price objective on shares of Pentair in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $79.59.

Pentair Stock Performance

Shares of PNR opened at $52.09 on Thursday. Pentair has a 12 month low of $51.13 and a 12 month high of $112.13. The stock has a fifty day moving average price of $58.73 and a 200-day moving average price of $70.22. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The firm has a market cap of $8.32 billion, a PE ratio of 13.09, a P/E/G ratio of 1.35 and a beta of 1.04.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The firm had revenue of $932.60 million during the quarter, compared to analysts' expectations of $943.24 million. During the same quarter last year, the firm earned $1.39 EPS. The business's quarterly revenue was down 17.0% on a year-over-year basis. Equities research analysts predict that Pentair will post 4.64 earnings per share for the current fiscal year.

Institutional Trading of Pentair

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in shares of Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company's stock valued at $110,617,000 after purchasing an additional 1,189,122 shares in the last quarter. Amundi raised its holdings in Pentair by 13.1% in the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company's stock worth $369,208,000 after purchasing an additional 491,758 shares during the period. First Trust Advisors LP raised its holdings in Pentair by 52.9% in the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company's stock worth $105,844,000 after purchasing an additional 420,140 shares during the period. Renaissance Technologies LLC acquired a new position in Pentair in the 1st quarter worth about $28,717,000. Finally, California Public Employees Retirement System boosted its position in Pentair by 57.2% during the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company's stock worth $43,840,000 after purchasing an additional 183,089 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

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.

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