Watts Water Technologies, Inc. (WTS) Receives $69.20 Consensus Price Target from Analysts
Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $69.20.
WTS has been the topic of several research analyst reports. BidaskClub upgraded Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research note on Tuesday, September 5th. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Monday, September 18th. Stifel Nicolaus initiated coverage on Watts Water Technologies in a research note on Monday, September 18th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Cowen and Company reiterated a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a research note on Thursday, September 28th.
Watts Water Technologies (NYSE:WTS) traded up 0.52% on Friday, reaching $67.45. The company’s stock had a trading volume of 72,681 shares. The firm’s 50 day moving average price is $66.09 and its 200-day moving average price is $63.71. Watts Water Technologies has a 1-year low of $58.35 and a 1-year high of $71.05. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 26.35 and a beta of 1.08.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Equities analysts forecast that Watts Water Technologies will post $2.99 earnings per share for the current year.
In other news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the transaction, the insider now owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of WTS. BlackRock Inc. increased its stake in Watts Water Technologies by 14,402.8% during the 1st quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after buying an additional 3,541,642 shares in the last quarter. Vanguard Group Inc. increased its stake in Watts Water Technologies by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock worth $161,541,000 after buying an additional 205,883 shares in the last quarter. Renaissance Technologies LLC increased its stake in Watts Water Technologies by 139.1% during the 2nd quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock worth $13,070,000 after buying an additional 120,300 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in Watts Water Technologies by 71.6% during the 2nd quarter. Palisade Capital Management LLC NJ now owns 182,026 shares of the technology company’s stock worth $11,504,000 after buying an additional 75,934 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Watts Water Technologies by 9.8% during the 2nd quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock worth $47,987,000 after buying an additional 67,767 shares in the last quarter. Institutional investors own 77.51% of the company’s stock.
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About Watts Water Technologies
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.
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