Watts Water Technologies (NYSE:WTS) Price Target Raised to $217.00

Watts Water Technologies (NYSE:WTS) had its price target upped by equities research analysts at The Goldman Sachs Group from $197.00 to $217.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 1.11% from the stock’s previous close.

WTS has been the subject of several other reports. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price objective for the company. Finally, Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $220.00.

Watts Water Technologies Stock Down 2.3 %

WTS stock traded down $5.23 on Wednesday, reaching $219.44. 82,354 shares of the company traded hands, compared to its average volume of 166,814. The firm has a fifty day simple moving average of $208.15 and a 200-day simple moving average of $203.29. The company has a market cap of $7.31 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 3.39 and a beta of 0.93. Watts Water Technologies has a one year low of $175.37 and a one year high of $232.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. Research analysts anticipate that Watts Water Technologies will post 8.73 earnings per share for the current year.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Watts Water Technologies by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock valued at $65,556,000 after buying an additional 9,148 shares during the period. Van ECK Associates Corp grew its position in shares of Watts Water Technologies by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 17,382 shares of the technology company’s stock valued at $3,484,000 after acquiring an additional 4,967 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Watts Water Technologies by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company’s stock worth $55,411,000 after purchasing an additional 12,159 shares in the last quarter. State Street Corp raised its holdings in Watts Water Technologies by 0.9% in the 3rd quarter. State Street Corp now owns 977,000 shares of the technology company’s stock worth $202,425,000 after purchasing an additional 8,314 shares during the period. Finally, SG Americas Securities LLC lifted its position in Watts Water Technologies by 264.1% during the fourth quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 4,410 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.