Watts Water Technologies, Inc. (NYSE:WTS) Given Hold Rating at Robert W. Baird

Robert W. Baird reaffirmed their hold rating on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a report published on Wednesday, October 4th. Robert W. Baird currently has a $71.00 price target on the technology company’s stock.

Several other equities research analysts have also commented on the stock. 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. Cowen and Company reaffirmed a hold rating and set a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Stifel Nicolaus assumed coverage on shares of Watts Water Technologies in a research report on Monday, September 18th. They set a buy rating and a $72.00 price target for the company. Northcoast Research raised shares of Watts Water Technologies from a neutral rating to a buy rating and set a $79.00 price target for the company in a research report on Monday, September 18th. Finally, Boenning Scattergood reissued an outperform rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $70.83.

Watts Water Technologies (NYSE:WTS) opened at 68.00 on Wednesday. The stock’s 50 day moving average is $66.09 and its 200-day moving average is $63.71. The company has a market capitalization of $2.32 billion, a PE ratio of 26.56 and a beta of 1.07. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million during the quarter, compared to analyst estimates of $379.51 million. During the same quarter in the previous year, the firm earned $0.75 EPS. Watts Water Technologies’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Watts Water Technologies will post $2.99 EPS for the current 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 owns 32,128 shares in the company, valued at approximately $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC increased its stake in Watts Water Technologies by 44.3% in the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after purchasing an additional 532 shares during the period. Acrospire Investment Management LLC increased its stake in Watts Water Technologies by 157.1% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock worth $114,000 after purchasing an additional 1,100 shares during the period. Public Employees Retirement System of Ohio increased its stake in Watts Water Technologies by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after purchasing an additional 17 shares during the period. Bruderman Asset Management LLC purchased a new stake in Watts Water Technologies in the second quarter worth $130,000. Finally, Bank of Montreal Can increased its stake in shares of Watts Water Technologies by 8.8% during the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 77.51% of the company’s stock.

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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