Pentair (NYSE:PNR) Stock Price Target Raised at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Pentair’s price target from $61 to $69 while maintaining a “sector perform” rating, implying 7.55% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $76.59; individual targets range from $65 to $81.
• Pentair exceeded quarterly expectations with EPS of $1.18 versus the $1.07 consensus and revenue of $976.4 million, although revenue declined 4.5% year over year.

Pentair (NYSE:PNR - Get Free Report) had its price target upped by equities researchers at Royal Bank Of Canada from $61.00 to $69.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a "sector perform" rating on the industrial products company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 7.55% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. UBS Group set a $65.00 price target on Pentair in a research report on Wednesday. Mizuho lowered their price objective on Pentair from $85.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Jefferies Financial Group upgraded shares of Pentair to a "strong-buy" rating in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $81.00 target price on shares of Pentair in a report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of Pentair from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $76.59.

Pentair Stock Performance

NYSE:PNR opened at $64.16 on Wednesday. Pentair has a 52 week low of $51.13 and a 52 week high of $110.12. The company has a fifty day simple moving average of $56.69 and a two-hundred day simple moving average of $76.81. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. The business had revenue of $976.40 million for the quarter, compared to analysts' expectations of $963.71 million. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. As a group, equities analysts anticipate that Pentair will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Revisor Wealth Management LLC increased its position in Pentair by 3.4% in the 1st quarter. Revisor Wealth Management LLC now owns 5,520 shares of the industrial products company's stock valued at $481,000 after acquiring an additional 184 shares during the period. Inspire Investing LLC raised its stake in Pentair by 7.1% during the 1st quarter. Inspire Investing LLC now owns 2,825 shares of the industrial products company's stock valued at $246,000 after acquiring an additional 188 shares during the last quarter. CI Investments Inc. lifted its position in Pentair by 8.5% during the 1st quarter. CI Investments Inc. now owns 2,657 shares of the industrial products company's stock worth $231,000 after acquiring an additional 209 shares during the period. Patton Fund Management Inc. lifted its position in Pentair by 10.9% during the 1st quarter. Patton Fund Management Inc. now owns 2,427 shares of the industrial products company's stock worth $211,000 after acquiring an additional 238 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Pentair by 8.4% in the 1st quarter. Fifth Third Bancorp now owns 3,502 shares of the industrial products company's stock valued at $305,000 after purchasing an additional 271 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

About Pentair

Pentair plc NYSE: PNR is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.