Watts Water Technologies Inc (WTS) Given Average Recommendation of “Hold” by Brokerages

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Watts Water Technologies Inc (NYSE:WTS) has received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $91.25.

WTS has been the topic of several research analyst reports. ValuEngine upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Saturday, July 7th. Robert W. Baird reaffirmed a “hold” rating and set a $82.00 price target on shares of Watts Water Technologies in a research note on Friday, July 20th. Seaport Global Securities reaffirmed a “hold” rating and set a $83.00 price target on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus upped their price target on Watts Water Technologies from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 3rd.

Shares of WTS stock traded up $1.25 during trading hours on Thursday, hitting $71.30. 107,600 shares of the company’s stock were exchanged, compared to its average volume of 118,296. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 2.29. The stock has a market capitalization of $2.38 billion, a PE ratio of 23.61, a PEG ratio of 1.71 and a beta of 1.01. Watts Water Technologies has a 52 week low of $67.29 and a 52 week high of $93.35.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $407.90 million for the quarter, compared to analysts’ expectations of $403.60 million. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. As a group, analysts forecast that Watts Water Technologies will post 3.7 earnings per share for the current fiscal year.

In other Watts Water Technologies news, General Counsel Kenneth Robert Lepage sold 10,115 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $86.07, for a total value of $870,598.05. Following the transaction, the general counsel now owns 39,966 shares of the company’s stock, valued at $3,439,873.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 3,910 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $82.32, for a total value of $321,871.20. Following the completion of the transaction, the insider now directly owns 22,991 shares in the company, valued at approximately $1,892,619.12. The disclosure for this sale can be found here. Insiders have sold 25,065 shares of company stock worth $2,134,844 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Watts Water Technologies in the second quarter valued at about $102,000. Fort L.P. acquired a new stake in shares of Watts Water Technologies during the second quarter worth about $108,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Watts Water Technologies during the second quarter worth about $212,000. Hartford Investment Management Co. acquired a new stake in shares of Watts Water Technologies during the second quarter worth about $222,000. Finally, Xact Kapitalforvaltning AB raised its position in shares of Watts Water Technologies by 27.2% during the first quarter. Xact Kapitalforvaltning AB now owns 3,744 shares of the technology company’s stock worth $291,000 after purchasing an additional 800 shares during the period. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

About Watts Water Technologies

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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Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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