Watts Water Technologies (NYSE:WTS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Watts Water Technologies (NYSE:WTS) had its price objective raised by equities researchers at The Goldman Sachs Group from $197.00 to $217.00 in a research report issued 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 indicate a potential downside of 1.11% from the company’s previous close.

A number of other brokerages have also recently commented on WTS. Stifel Nicolaus lifted their price target on Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 target price on the stock. Finally, Northcoast Research raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average price target of $220.00.

Watts Water Technologies Price Performance

Shares of WTS stock traded down $5.23 during trading hours on Wednesday, hitting $219.44. 82,354 shares of the company’s stock were exchanged, compared to its average volume of 166,814. Watts Water Technologies has a 12-month low of $175.37 and a 12-month high of $232.60. The company has a market capitalization of $7.31 billion, a PE ratio of 26.33, a PEG ratio of 3.39 and a beta of 0.93. The business’s 50 day simple moving average is $208.15 and its 200-day simple moving average is $203.29. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. On average, equities 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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies during the 3rd quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of Watts Water Technologies by 59.8% in the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after purchasing an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Watts Water Technologies during the third quarter valued at approximately $68,000. CWM LLC grew its stake in Watts Water Technologies by 24.4% in the third quarter. CWM LLC now owns 392 shares of the technology company’s stock worth $81,000 after purchasing an additional 77 shares during the period. Finally, Blue Trust Inc. raised its holdings in Watts Water Technologies by 99.3% in the third quarter. Blue Trust Inc. now owns 544 shares of the technology company’s stock worth $113,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

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.