Watts Water Technologies (NYSE:WTS - Get Free Report) had its price objective hoisted by equities researchers at Stifel Nicolaus from $275.00 to $290.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 15.54% from the company's current price.
Separately, Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies has an average rating of "Hold" and a consensus price target of $234.20.
Read Our Latest Report on Watts Water Technologies
Watts Water Technologies Price Performance
WTS stock opened at $251.00 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.53 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $245.20 and a 200-day simple moving average of $220.55. Watts Water Technologies has a twelve month low of $177.59 and a twelve month high of $260.93. The company has a market capitalization of $8.38 billion, a P/E ratio of 28.75, a PEG ratio of 3.60 and a beta of 1.12.
Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.12 by $0.25. The company had revenue of $558.00 million during the quarter, compared to analysts' expectations of $547.58 million. Watts Water Technologies had a return on equity of 17.59% and a net margin of 13.07%. The firm's revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. As a group, equities analysts anticipate that Watts Water Technologies will post 9.08 EPS for the current year.
Insider Transactions at Watts Water Technologies
In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total value of $1,692,950.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shashank Patel sold 8,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $245.00, for a total value of $1,960,000.00. Following the completion of the sale, the chief financial officer directly owned 2,754 shares in the company, valued at approximately $674,730. This represents a 74.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,768 shares of company stock worth $3,841,417. Company insiders own 1.10% of the company's stock.
Institutional Investors Weigh In On Watts Water Technologies
Several institutional investors have recently made changes to their positions in the stock. Costello Asset Management INC bought a new position in Watts Water Technologies in the first quarter valued at $33,000. Versant Capital Management Inc increased its stake in Watts Water Technologies by 57.3% in the first quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after acquiring an additional 82 shares during the last quarter. Headlands Technologies LLC increased its stake in Watts Water Technologies by 329.1% in the fourth quarter. Headlands Technologies LLC now owns 236 shares of the technology company's stock valued at $48,000 after acquiring an additional 181 shares during the last quarter. GAMMA Investing LLC increased its stake in Watts Water Technologies by 80.5% in the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after acquiring an additional 124 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Watts Water Technologies by 45.0% in the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.
About Watts Water Technologies
(
Get Free Report)
Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.
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