Pentair (NYSE:PNR) Price Target Cut to $65.00 by Analysts at Mizuho

Pentair (NYSE:PNR) had its target price decreased by Mizuho from $85.00 to $65.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price suggests a potential upside of 24.79% from the company’s current price.

PNR has been the topic of several other research reports. Weiss Ratings lowered shares of Pentair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $81.00 price target on shares of Pentair in a research report on Monday, July 27th. Stifel Nicolaus restated a “hold” rating and set a $65.00 price target (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. Oppenheimer decreased their price target on shares of Pentair from $115.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday, July 16th. Finally, Seaport Research Partners cut Pentair from a “buy” rating to a “neutral” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pentair has a consensus rating of “Hold” and an average price target of $79.59.

Pentair Price Performance

Pentair stock opened at $52.09 on Thursday. The company’s fifty day moving average price is $58.73 and its 200 day moving average price is $70.22. Pentair has a 1 year low of $51.13 and a 1 year high of $112.13. The stock has a market capitalization of $8.32 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $932.60 million during the quarter, compared to analyst estimates of $943.24 million. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. As a group, equities research analysts anticipate that Pentair will post 4.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pentair

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in Pentair in the 2nd quarter valued at $47,000. Westpac Banking Corp increased its stake in shares of Pentair by 30.1% in the 1st quarter. Westpac Banking Corp now owns 1,524 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 353 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Pentair in the 1st quarter worth $203,000. Checchi Capital Advisers LLC raised its holdings in shares of Pentair by 21.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,375 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 418 shares during the period. Finally, Patton Fund Management Inc. raised its holdings in shares of Pentair by 10.9% during the 1st quarter. Patton Fund Management Inc. now owns 2,427 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 238 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.