Watts Water Technologies (WTS) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Watts Water Technologies (NYSE:WTS) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $89.00 price target on the technology company’s stock.

According to Zacks, “For 2018, Watts Water expects its organic sales to increase around 3% and operating margin to expand between 50 and 70 basis points for the year due to higher volume and pricing actions. In addition, restructuring benefits will drive margin performance in 2018. Also, Watts Water’s focus on new product innovation will drive growth. Further, the company will benefit in 2018 from the U.S. tax reform. The company also has positive record of earnings surprises in recent quarters. Moreover, the stock has outperformed the industry over the past year.”

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A number of other research firms have also recently commented on WTS. Boenning Scattergood cut Watts Water Technologies from an outperform rating to a neutral rating in a research report on Wednesday, March 21st. ValuEngine upgraded Watts Water Technologies from a hold rating to a buy rating in a research report on Wednesday, April 18th. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the stock a buy rating in a report on Friday, January 19th. Stifel Nicolaus reissued a buy rating and set a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a report on Tuesday, January 16th. Finally, Robert W. Baird reissued a hold rating and set a $80.00 price target on shares of Watts Water Technologies in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $81.40.

WTS opened at $79.75 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.39. Watts Water Technologies has a one year low of $59.15 and a one year high of $84.25. The stock has a market cap of $2,717.00, a PE ratio of 26.41, a PEG ratio of 1.83 and a beta of 1.10.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Monday, February 12th. The technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Watts Water Technologies had a return on equity of 12.93% and a net margin of 5.02%. The business had revenue of $366.30 million for the quarter, compared to analysts’ expectations of $365.35 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. equities research analysts anticipate that Watts Water Technologies will post 3.63 EPS for the current year.

In other Watts Water Technologies news, CFO Todd A. Trapp sold 8,975 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.88, for a total value of $681,023.00. Following the sale, the chief financial officer now owns 26,129 shares of the company’s stock, valued at approximately $1,982,668.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy P. Horne sold 10,168 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $77.00, for a total value of $782,936.00. Following the completion of the sale, the insider now directly owns 39,832 shares in the company, valued at approximately $3,067,064. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,344 shares of company stock worth $3,239,332. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Koch Industries Inc. boosted its holdings in Watts Water Technologies by 22.0% in the 4th quarter. Koch Industries Inc. now owns 3,821 shares of the technology company’s stock valued at $290,000 after purchasing an additional 690 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Watts Water Technologies by 5.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 16,396 shares of the technology company’s stock valued at $1,245,000 after purchasing an additional 917 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Watts Water Technologies by 8.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 13,300 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 1,000 shares in the last quarter. Parametrica Management Ltd boosted its holdings in Watts Water Technologies by 27.3% in the 4th quarter. Parametrica Management Ltd now owns 5,560 shares of the technology company’s stock valued at $422,000 after purchasing an additional 1,194 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Watts Water Technologies by 3.2% in the 4th quarter. Swiss National Bank now owns 45,000 shares of the technology company’s stock valued at $3,418,000 after purchasing an additional 1,400 shares in the last quarter. 77.22% of the stock is currently owned by institutional investors.

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Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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