Watts Water Technologies (NYSE:WTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $90.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.80% from the company’s current price.

According to Zacks, “The continued execution of key strategic initiatives, including the transformation and restructuring actions undertaken by Watts Water will benefit fourth-quarter earnings. Watts Water expects organic sales growth rate to improve on a sequential basis driven by consistent growth in Americas from relatively healthy end markets. Europe and Asia-Pacific are also likely to improve over third-quarter levels. The company will also gain from its buyouts and new product development strategies.”

Other analysts also recently issued research reports about the company. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a research note on Tuesday, January 16th. Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a research note on Monday, November 20th. Seaport Global Securities restated a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $79.17.

Shares of Watts Water Technologies (NYSE WTS) traded up $1.65 during trading hours on Monday, reaching $80.50. The company had a trading volume of 85,900 shares, compared to its average volume of 67,515. Watts Water Technologies has a 12 month low of $59.15 and a 12 month high of $80.55. The firm has a market cap of $2,750.00, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.98 and a beta of 1.16. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The company had revenue of $347.70 million for the quarter, compared to analyst estimates of $361.22 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. equities analysts predict that Watts Water Technologies will post 3.01 earnings per share for the current fiscal year.

In related news, CEO Robert J. Pagano, Jr. sold 3,951 shares of Watts Water Technologies stock in a transaction on Monday, December 11th. The stock was sold at an average price of $73.09, for a total value of $288,778.59. Following the completion of the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at $10,047,974.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of Watts Water Technologies stock in a transaction on Friday, December 8th. The shares were sold at an average price of $73.53, for a total value of $871,477.56. Following the completion of the transaction, the chief executive officer now owns 137,474 shares of the company’s stock, valued at $10,108,463.22. The disclosure for this sale can be found here. Insiders sold 18,348 shares of company stock valued at $1,339,628 over the last quarter. 1.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of WTS. Impax Asset Management LTD raised its stake in Watts Water Technologies by 7.8% in the third quarter. Impax Asset Management LTD now owns 2,730,009 shares of the technology company’s stock valued at $188,917,000 after buying an additional 196,626 shares in the last quarter. Victory Capital Management Inc. raised its stake in Watts Water Technologies by 29.0% in the third quarter. Victory Capital Management Inc. now owns 771,208 shares of the technology company’s stock valued at $53,367,000 after buying an additional 173,225 shares in the last quarter. Renaissance Technologies LLC raised its stake in Watts Water Technologies by 139.1% in the second quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock valued at $13,070,000 after buying an additional 120,300 shares in the last quarter. Voya Investment Management LLC raised its stake in Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after buying an additional 67,767 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in Watts Water Technologies by 11.8% in the third quarter. TimesSquare Capital Management LLC now owns 405,860 shares of the technology company’s stock valued at $28,086,000 after buying an additional 42,900 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

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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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