Pentair (NYSE:PNR) PT Raised to $103.00

Pentair (NYSE:PNR) had its price target increased by analysts at Royal Bank of Canada from $101.00 to $103.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 31.09% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BNP Paribas initiated coverage on shares of Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price objective for the company. Barclays upped their price objective on shares of Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp upped their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Finally, Oppenheimer lifted their price target on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Pentair Stock Performance

PNR traded up $0.10 on Wednesday, hitting $78.57. 857,571 shares of the stock traded hands, compared to its average volume of 1,633,274. Pentair has a 52 week low of $52.28 and a 52 week high of $85.81. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $13.04 billion, a PE ratio of 20.92, a P/E/G ratio of 1.51 and a beta of 1.20. The business has a fifty day moving average price of $80.10 and a two-hundred day moving average price of $71.68.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.91 EPS. Pentair’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Pentair will post 4.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Pentair

Several hedge funds have recently bought and sold shares of the stock. Kodai Capital Management LP acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $173,280,000. AMF Tjanstepension AB bought a new stake in shares of Pentair during the first quarter worth $45,096,000. Goldman Sachs Group Inc. grew its stake in shares of Pentair by 138.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after purchasing an additional 484,810 shares during the last quarter. KBC Group NV grew its stake in shares of Pentair by 49.2% in the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock worth $86,601,000 after purchasing an additional 392,785 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Pentair during the third quarter valued at $21,044,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.