Robert W. Baird Raises Watts Water Technologies, Inc. (NYSE:WTS) Price Target to $76.00

Watts Water Technologies, Inc. (NYSE:WTS) had its price objective raised by equities research analysts at Robert W. Baird from $71.00 to $76.00 in a report released on Friday, November 3rd. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 7.80% from the company’s previous close.

A number of other brokerages also recently commented on WTS. Cowen and Company reissued a “hold” rating and issued a $58.00 price target on shares of Watts Water Technologies in a report on Thursday, September 28th. Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, October 3rd. Boenning Scattergood reaffirmed a “buy” rating on shares of Watts Water Technologies in a report on Thursday, November 2nd. Stifel Nicolaus initiated coverage on Watts Water Technologies in a report on Monday, September 18th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Watts Water Technologies has a consensus rating of “Hold” and an average price target of $72.83.

Watts Water Technologies (NYSE WTS) opened at $70.50 on Friday. The company has a market capitalization of $2,410.00, a PE ratio of 24.09, a P/E/G ratio of 1.95 and a beta of 1.12. Watts Water Technologies has a 1-year low of $59.15 and a 1-year high of $71.05. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. Watts Water Technologies’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. equities analysts forecast 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 firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its holdings in shares of Watts Water Technologies by 44.3% in the 2nd 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 last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Watts Water Technologies by 157.1% in the 2nd 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 last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Watts Water Technologies by 0.8% in the 2nd 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 last quarter. Bruderman Asset Management LLC bought a new stake in shares of Watts Water Technologies in the 2nd quarter worth approximately $130,000. Finally, Quantbot Technologies LP increased its position in Watts Water Technologies by 823.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock valued at $144,000 after acquiring an additional 2,035 shares during the period. 78.12% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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