Watts Water Technologies (NYSE:WTS) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Watts Water Technologies from “hold” to “buy.” Across analysts, the stock carries a “Moderate Buy” consensus rating and an average price target of $369.80.
• Watts reported quarterly EPS of $3.40, beating the $3.14 estimate, while revenue of $728 million exceeded forecasts and rose 19% year over year.
• Shares opened at $346.79, down 0.2%; two company insiders disclosed stock sales, while institutional investors collectively own 95.02% of shares.

Watts Water Technologies (NYSE:WTS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on the stock. Robert W. Baird set a $405.00 price target on shares of Watts Water Technologies in a report on Friday, August 7th. Stifel Nicolaus set a $445.00 price objective on shares of Watts Water Technologies in a research report on Monday, October 19th. Barclays lowered their price objective on Watts Water Technologies from $425.00 to $424.00 and set an "overweight" rating for the company in a research note on Friday. KeyCorp increased their price target on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $374.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Watts Water Technologies presently has an average rating of "Moderate Buy" and an average target price of $369.80.

Watts Water Technologies Stock Down 0.2%

Shares of Watts Water Technologies stock opened at $346.79 on Friday. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 3.45 and a beta of 1.13. Watts Water Technologies has a 1 year low of $262.64 and a 1 year high of $394.54. The firm's 50-day moving average is $355.42 and its two-hundred day moving average is $332.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $3.14 by $0.26. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $692.57 million. During the same period in the previous year, the firm earned $2.50 EPS. Watts Water Technologies's revenue was up 19.0% on a year-over-year basis. As a group, research analysts expect that Watts Water Technologies will post 12.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider directly owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. North Dakota State Investment Board increased its holdings in Watts Water Technologies by 3.9% in the third quarter. North Dakota State Investment Board now owns 834 shares of the technology company's stock worth $295,000 after buying an additional 31 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its stake in shares of Watts Water Technologies by 6.6% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 729 shares of the technology company's stock valued at $258,000 after buying an additional 45 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Watts Water Technologies by 11.4% in the 2nd quarter. GAMMA Investing LLC now owns 478 shares of the technology company's stock valued at $187,000 after acquiring an additional 49 shares during the period. Cetera Investment Advisers lifted its holdings in Watts Water Technologies by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company's stock worth $528,000 after buying an additional 52 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of Watts Water Technologies by 8.6% in the first quarter. Kestra Advisory Services LLC now owns 706 shares of the technology company's stock worth $205,000 after buying an additional 56 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company's offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

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