Pentair (NYSE:PNR) Given New $77.00 Price Target at The Goldman Sachs Group

Pentair (NYSE:PNRGet Rating) had its price objective dropped by equities researchers at The Goldman Sachs Group from $89.00 to $77.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 46.33% from the company’s current price.

Several other equities analysts also recently weighed in on PNR. StockNews.com initiated coverage on shares of Pentair in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley reduced their price objective on shares of Pentair from $55.00 to $51.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Barclays reduced their target price on Pentair from $62.00 to $58.00 and set an “underweight” rating for the company in a research report on Monday, April 4th. Mizuho raised Pentair from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $60.00 to $62.00 in a report on Friday, March 4th. Finally, Zacks Investment Research raised Pentair from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.40.

PNR stock opened at $52.62 on Wednesday. The stock’s 50 day moving average is $56.62 and its 200-day moving average is $66.59. Pentair has a twelve month low of $52.13 and a twelve month high of $80.40. The firm has a market capitalization of $8.70 billion, a PE ratio of 15.90, a P/E/G ratio of 1.38 and a beta of 1.15. The company has a quick ratio of 0.70, a current ratio of 1.24 and a debt-to-equity ratio of 0.37.

Pentair (NYSE:PNRGet Rating) last announced its earnings results on Tuesday, February 1st. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Pentair had a return on equity of 24.73% and a net margin of 14.69%. The firm had revenue of $988.60 million for the quarter, compared to the consensus estimate of $942.67 million. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pentair will post 3.71 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of PNR. WASHINGTON TRUST Co boosted its position in shares of Pentair by 280.4% during the fourth quarter. WASHINGTON TRUST Co now owns 407 shares of the industrial products company’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Zullo Investment Group Inc. purchased a new stake in Pentair during the 4th quarter valued at $35,000. SouthState Corp bought a new position in shares of Pentair during the 3rd quarter valued at $36,000. Larson Financial Group LLC boosted its stake in shares of Pentair by 71.4% in the 4th quarter. Larson Financial Group LLC now owns 814 shares of the industrial products company’s stock worth $59,000 after buying an additional 339 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Pentair by 2,106.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,655 shares of the industrial products company’s stock worth $62,000 after buying an additional 1,580 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

About Pentair (Get Rating)

Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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