Watts Water Technologies (NYSE:WTS) Price Target Cut to $202.00 by Analysts at Stifel Nicolaus

Watts Water Technologies (NYSE:WTS) had its price target decreased by research analysts at Stifel Nicolaus from $217.00 to $202.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 9.12% from the company’s current price.

Several other research firms have also recently commented on WTS. Robert W. Baird decreased their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Thursday.

Watts Water Technologies Stock Down 4.4 %

Watts Water Technologies stock opened at $185.12 on Friday. The firm has a 50 day moving average price of $190.57 and a two-hundred day moving average price of $200.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.48. Watts Water Technologies has a 52-week low of $167.87 and a 52-week high of $219.52. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.82 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.12. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The business had revenue of $597.30 million during the quarter, compared to the consensus estimate of $589.55 million. During the same quarter last year, the firm earned $2.34 earnings per share. Watts Water Technologies’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Watts Water Technologies will post 8.7 EPS for the current year.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $215.51, for a total transaction of $442,011.01. Following the transaction, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Elie Melhem sold 2,051 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $215.51, for a total transaction of $442,011.01. Following the completion of the sale, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Timothy P. Horne sold 2,194 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the transaction, the insider now owns 2,806 shares in the company, valued at approximately $601,578.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,753 shares of company stock worth $1,236,753. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Several large investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in Watts Water Technologies during the first quarter valued at about $26,000. Gradient Investments LLC purchased a new stake in shares of Watts Water Technologies during the 2nd quarter valued at approximately $31,000. Allworth Financial LP boosted its holdings in Watts Water Technologies by 47.5% in the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after buying an additional 56 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Watts Water Technologies by 502.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock valued at $47,000 after acquiring an additional 186 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Watts Water Technologies during the first quarter worth $53,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.