BidaskClub Downgrades Watts Water Technologies, Inc. (WTS) to Strong Sell
Watts Water Technologies, Inc. (NYSE:WTS) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Separately, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.50.
Shares of Watts Water Technologies (NYSE:WTS) opened at 62.05 on Friday. The company has a market capitalization of $2.12 billion, a PE ratio of 24.24 and a beta of 1.07. The stock has a 50 day moving average price of $63.97 and a 200 day moving average price of $62.90. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. Watts Water Technologies’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. On average, analysts predict that Watts Water Technologies will post $2.99 earnings per share for the current fiscal year.
In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $64.42, for a total value of $82,522.02. Following the completion of the sale, the insider now directly owns 29,493 shares of the company’s stock, valued at $1,899,939.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Watts Water Technologies by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 45,946 shares of the technology company’s stock worth $2,996,000 after buying an additional 1,823 shares in the last quarter. Bank of Montreal Can increased its stake in Watts Water Technologies by 8.8% in the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock worth $138,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Watts Water Technologies by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the technology company’s stock worth $705,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Watts Water Technologies by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,070 shares of the technology company’s stock worth $191,000 after buying an additional 50 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock worth $122,000 after buying an additional 224 shares in the last quarter. 77.68% of the stock is owned by institutional investors and hedge funds.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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