Boenning Scattergood Reaffirms Neutral Rating for Watts Water Technologies (NYSE:WTS)

Watts Water Technologies (NYSE:WTS – Get Rating)‘s stock had its “neutral” rating restated by investment analysts at Boenning Scattergood in a research note issued on Wednesday, Zacks.com reports. Boenning Scattergood also issued estimates for Watts Water Technologies’ FY2022 earnings at $5.84 EPS and FY2023 earnings at $5.08 EPS.

WTS has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price objective on shares of Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. Stifel Nicolaus dropped their price target on Watts Water Technologies from $148.00 to $141.00 in a research report on Thursday. StockNews.com assumed coverage on Watts Water Technologies in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Watts Water Technologies in a research note on Thursday, February 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.00.

Shares of WTS opened at $132.30 on Wednesday. Watts Water Technologies has a 52 week low of $124.20 and a 52 week high of $212.00. The company has a current ratio of 2.11, a quick ratio of 1.20 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.68 and a beta of 0.98. The stock has a 50 day moving average of $138.79 and a 200-day moving average of $166.89.

Watts Water Technologies (NYSE:WTS – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.26. Watts Water Technologies had a return on equity of 16.55% and a net margin of 9.16%. The firm had revenue of $463.20 million for the quarter, compared to analysts’ expectations of $442.80 million. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Watts Water Technologies will post 6 earnings per share for the current fiscal year.

In related news, insider Elie Melhem sold 5,600 shares of Watts Water Technologies stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $145.04, for a total value of $812,224.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Watts Water Technologies by 688.2% during the 4th quarter. Signaturefd LLC now owns 134 shares of the technology company’s stock valued at $26,000 after buying an additional 117 shares during the period. UMB Bank N A MO acquired a new position in Watts Water Technologies during the 4th quarter valued at about $29,000. Trust Co. of Vermont acquired a new position in Watts Water Technologies during the 4th quarter valued at about $32,000. C M Bidwell & Associates Ltd. acquired a new position in Watts Water Technologies during the 3rd quarter valued at about $42,000. Finally, Kings Point Capital Management acquired a new position in Watts Water Technologies during the 3rd quarter valued at about $52,000. 75.11% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile (Get Rating)

Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company 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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