Cowen Cuts Pentair (NYSE:PNR) Price Target to $75.00

Pentair (NYSE:PNRGet Rating) had its price target reduced by Cowen from $85.00 to $75.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Cowen’s target price points to a potential upside of 42.29% from the company’s previous close.

A number of other research analysts have also recently commented on PNR. Stifel Nicolaus reduced their target price on Pentair from $67.00 to $57.00 and set a “hold” rating on the stock in a research note on Monday. The Goldman Sachs Group reduced their price objective on Pentair from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, April 13th. StockNews.com began coverage on Pentair in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays reduced their price objective on Pentair from $58.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on Pentair from $57.00 to $58.00 and gave the company a “sector perform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Pentair presently has an average rating of “Hold” and an average price target of $73.88.

PNR traded down $0.68 during trading on Friday, reaching $52.71. The stock had a trading volume of 28,471 shares, compared to its average volume of 1,464,001. The stock has a market cap of $8.72 billion, a PE ratio of 15.92, a PEG ratio of 1.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.24. Pentair has a one year low of $51.03 and a one year high of $80.40. The business has a 50-day moving average of $55.56 and a 200-day moving average of $65.63.

Pentair (NYSE:PNRGet Rating) last released its earnings results on Thursday, April 21st. The industrial products company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. The business had revenue of $999.60 million for the quarter, compared to analysts’ expectations of $948.83 million. Pentair had a return on equity of 24.73% and a net margin of 14.69%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Equities research analysts forecast that Pentair will post 3.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. WASHINGTON TRUST Co grew its position in Pentair by 280.4% in the 4th quarter. WASHINGTON TRUST Co now owns 407 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Field & Main Bank purchased a new position in shares of Pentair during the 1st quarter worth $33,000. Zullo Investment Group Inc. purchased a new position in shares of Pentair during the 4th quarter valued at $35,000. SouthState Corp purchased a new position in shares of Pentair during the 3rd quarter valued at $36,000. Finally, Larson Financial Group LLC lifted its stake in shares of Pentair by 71.4% during the 4th quarter. Larson Financial Group LLC now owns 814 shares of the industrial products company’s stock valued at $59,000 after buying an additional 339 shares in the last quarter. 87.33% of the stock is owned by 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.

Further Reading

Stock Target Advisor logo

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.