Pentair (NYSE:PNR) Sets New 1-Year Low - Here's Why

Key Points

• Pentair shares hit a new 52-week low, trading as low as $55.34, with the stock well below its 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with several firms cutting ratings or price targets. The stock carries a consensus “Hold” rating and an average target price of $87.19.
• Despite beating quarterly EPS estimates, Pentair reported 17% year-over-year revenue decline and lower earnings than the prior-year period, reflecting ongoing business pressure.

Pentair plc (NYSE:PNR - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The company traded as low as $55.34 and last traded at $56.0610, with a volume of 5840295 shares changing hands. The stock had previously closed at $55.92.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNR. Royal Bank Of Canada cut shares of Pentair from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $101.00 to $74.00 in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Pentair from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Zacks Research downgraded shares of Pentair from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 12th. Robert W. Baird decreased their target price on Pentair from $83.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $65.00 price target (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $87.19.

Pentair Price Performance

The firm has a market cap of $8.86 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.43 and a beta of 1.02. The firm's fifty day simple moving average is $63.35 and its 200 day simple moving average is $74.91. 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 - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS 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 company had revenue of $932.60 million for the quarter, compared to the consensus estimate of $943.24 million. During the same period in the previous year, the business earned $1.39 earnings per share. The firm's revenue for the quarter was down 17.0% on a year-over-year basis. As a group, analysts forecast that Pentair plc will post 4.64 earnings per share for the current year.

Hedge Funds Weigh In On Pentair

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC increased its stake in Pentair by 71.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company's stock worth $26,000 after acquiring an additional 105 shares during the last quarter. Tsfg LLC purchased a new stake in Pentair during the 2nd quarter valued at $37,000. Sound Financial Strategies Group LLC purchased a new stake in Pentair during the 2nd quarter valued at $38,000. Plan A Wealth LLC bought a new stake in Pentair in the second quarter worth $38,000. Finally, Alan B Lancz & Associates Inc. purchased a new position in Pentair during the second quarter worth $43,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Company Profile

Pentair plc NYSE: PNR is a water-treatment and fluid-management company that develops products and solutions for residential, commercial, industrial and municipal applications. Its offerings are designed to help move, filter, treat and manage water, with an emphasis on water quality, efficiency and sustainability.

The company's products include pool and spa pumps, filters, heaters, automation systems and related equipment; water softening and filtration systems; and pumps, valves, controls and other fluid-management products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.