Watts Water Technologies (NYSE:WTS) Stock Price Target Cut by Barclays

Watts Water Technologies (NYSE:WTS) had its price objective lowered by Barclays from $425.00 to $424.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 21.47% from the stock’s current price.

A number of other brokerages have also recently issued reports on WTS. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $417.00 price target on shares of Watts Water Technologies in a research report on Wednesday, October 14th. Wall Street Zen lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. KeyCorp boosted their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $374.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watts Water Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $371.80.

Watts Water Technologies Stock Performance

NYSE WTS traded up $1.60 during trading hours on Friday, hitting $349.06. The company had a trading volume of 68,142 shares, compared to its average volume of 263,695. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. Watts Water Technologies has a 1-year low of $262.64 and a 1-year high of $394.54. The company has a market cap of $11.65 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.43 and a beta of 1.13. The business has a 50 day moving average of $355.93 and a 200-day moving average of $332.27.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.26. Watts Water Technologies had a return on equity of 20.26% and a net margin of 16.00%. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $692.57 million. During the same quarter last year, the company posted $2.50 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities research analysts expect that Watts Water Technologies will post 12.87 EPS for the current year.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the transaction, the insider directly owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph T. Noonan sold 3,650 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.

Institutional Trading of Watts Water Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. North Dakota State Investment Board increased its stake in shares of Watts Water Technologies by 3.9% during the third quarter. North Dakota State Investment Board now owns 834 shares of the technology company’s stock worth $295,000 after acquiring an additional 31 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in Watts Water Technologies by 6.6% in the third quarter. Robertson Stephens Wealth Management LLC now owns 729 shares of the technology company’s stock valued at $258,000 after purchasing an additional 45 shares during the period. GAMMA Investing LLC lifted its position in Watts Water Technologies by 11.4% in the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock valued at $187,000 after purchasing an additional 49 shares during the period. Cetera Investment Advisers lifted its position in Watts Water Technologies by 2.9% in the first quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company’s stock valued at $528,000 after purchasing an additional 52 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in Watts Water Technologies by 8.6% in the 1st quarter. Kestra Advisory Services LLC now owns 706 shares of the technology company’s stock valued at $205,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.