Barclays Issues Pessimistic Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price target reduced by equities research analysts at Barclays from $75.00 to $70.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 62.27% from the company’s current price.

Several other research analysts have also recently weighed in on NVT. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 17th. KeyCorp dropped their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average target price of $77.50.

nVent Electric Stock Down 10.7 %

Shares of NYSE NVT traded down $5.18 during trading on Friday, hitting $43.14. The stock had a trading volume of 534,684 shares, compared to its average volume of 2,264,153. The firm has a fifty day moving average of $60.41 and a two-hundred day moving average of $68.43. The company has a market capitalization of $7.12 billion, a PE ratio of 22.01, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric has a 12 month low of $43.41 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On nVent Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the period. Capital Research Global Investors purchased a new stake in nVent Electric in the fourth quarter valued at approximately $384,749,000. State Street Corp lifted its position in nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Norges Bank bought a new stake in nVent Electric during the fourth quarter valued at approximately $197,434,000. Finally, Geode Capital Management LLC grew its stake in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.