Pentair (NYSE:PNR) Upgraded to Hold at Zacks Investment Research

Pentair (NYSE:PNRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $57.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.63% from the stock’s current price.

According to Zacks, “Pentair has been witnessing strong demand in the residential focused businesses, which is expected to continue. Activity in industrial and commercial businesses continues to pick up on strong demand recovery. Pentair expects adjusted earnings per share (EPS) for 2022 between $3.70 and $3.80. The guidance indicates year-over-year growth of 10% at the mid-point. Cost inflation and impact of supply chain disruptions are likely to weigh on the company's results in tghe near term. Nevertheless, gains from productivity improvement, price hikes and gains from its cost control efforts are likely to offset some of these impacts. Focus on digital initiatives, innovation and acquisitions will drive growth for the company. Pentair has embarked on a Transformation Program that is expected to lead to margin expansion of at least 300 basis points by 2025.”

A number of other research analysts have also recently weighed in on the company. Mizuho raised Pentair from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $60.00 to $62.00 in a research report on Friday, March 4th. Morgan Stanley dropped their price target on shares of Pentair from $55.00 to $51.00 and set an “underweight” rating for the company in a research report on Thursday, April 7th. StockNews.com initiated coverage on shares of Pentair in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Barclays dropped their target price on shares of Pentair from $62.00 to $58.00 and set an “underweight” rating for the company in a report on Monday, April 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.40.

Shares of NYSE PNR opened at $52.96 on Tuesday. Pentair has a 12-month low of $52.13 and a 12-month high of $80.40. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $56.45 and a 200 day moving average of $66.50.

Pentair (NYSE:PNRGet Rating) last issued its quarterly earnings data on Tuesday, February 1st. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Pentair had a net margin of 14.69% and a return on equity of 24.73%. The firm had revenue of $988.60 million during the quarter, compared to the consensus estimate of $942.67 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Pentair will post 3.71 EPS for the current year.

Several hedge funds have recently bought and sold shares of PNR. Whittier Trust Co. of Nevada Inc. increased its position in Pentair by 9.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,720 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 154 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pentair by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 42,187 shares of the industrial products company’s stock worth $3,064,000 after buying an additional 156 shares during the last quarter. NorthRock Partners LLC raised its position in shares of Pentair by 6.0% during the 3rd quarter. NorthRock Partners LLC now owns 3,251 shares of the industrial products company’s stock valued at $236,000 after buying an additional 185 shares in the last quarter. Securian Asset Management Inc. lifted its holdings in shares of Pentair by 1.4% in the 4th quarter. Securian Asset Management Inc. now owns 13,849 shares of the industrial products company’s stock valued at $1,011,000 after acquiring an additional 185 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its position in Pentair by 17.7% in the fourth quarter. IndexIQ Advisors LLC now owns 1,242 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 187 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Stories

Get a free copy of the Zacks research report on Pentair (PNR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pentair (NYSE:PNR)

Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.