Watts Water Technologies, Inc. (WTS) Receives “Buy” Rating from Stifel Nicolaus

Watts Water Technologies, Inc. (NYSE:WTS)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a report released on Friday, November 3rd. They presently have a $79.00 price target on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 8.97% from the company’s previous close.

Several other analysts have also weighed in on the stock. Cowen and Company reiterated a “hold” rating and issued a $58.00 price objective on shares of Watts Water Technologies in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Tuesday, October 3rd. Robert W. Baird lifted their price objective on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a report on Thursday, November 2nd. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $72.83.

Watts Water Technologies (WTS) traded down $0.60 during trading hours on Friday, reaching $72.50. 72,003 shares of the company were exchanged, compared to its average volume of 127,886. The company has a market capitalization of $2,467.19, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Watts Water Technologies has a 1-year low of $59.15 and a 1-year high of $73.40.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The firm had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. During the same period in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. analysts anticipate that Watts Water Technologies will post 3.01 EPS for the current fiscal year.

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In related news, insider Elie Melhem sold 3,306 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the sale, the insider now directly owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after purchasing an additional 3,541,642 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Watts Water Technologies by 10.7% in the second quarter. Victory Capital Management Inc. now owns 597,983 shares of the technology company’s stock worth $37,793,000 after buying an additional 57,894 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Watts Water Technologies by 9.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 172,155 shares of the technology company’s stock worth $10,734,000 after buying an additional 14,482 shares during the period. Morgan Stanley raised its stake in shares of Watts Water Technologies by 0.9% in the first quarter. Morgan Stanley now owns 162,153 shares of the technology company’s stock worth $10,110,000 after buying an additional 1,439 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in shares of Watts Water Technologies by 3.8% in the first quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock worth $979,000 after buying an additional 580 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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