Pentair (NYSE:PNR) Given New $103.00 Price Target at Royal Bank of Canada

Pentair (NYSE:PNR) had its price objective raised by equities research analysts at Royal Bank of Canada from $101.00 to $103.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 30.05% from the stock’s current price.

PNR has been the topic of several other reports. The Goldman Sachs Group restated a “neutral” rating and set a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. KeyCorp raised their price target on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average target price of $89.93.

Pentair Price Performance

Shares of Pentair stock opened at $79.20 on Wednesday. The business’s 50-day moving average price is $80.27 and its 200-day moving average price is $71.84. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. Pentair has a 12 month low of $52.28 and a 12 month high of $85.81. The firm has a market capitalization of $13.15 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.91 EPS. Pentair’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts forecast that Pentair will post 4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in shares of Pentair by 6.0% in the 1st quarter. New York State Teachers Retirement System now owns 163,836 shares of the industrial products company’s stock valued at $13,998,000 after purchasing an additional 9,207 shares during the period. Oak Family Advisors LLC raised its stake in Pentair by 1.6% during the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock valued at $941,000 after buying an additional 169 shares during the last quarter. Adams Diversified Equity Fund Inc. purchased a new position in Pentair during the first quarter valued at $23,317,000. Rational Advisors LLC raised its stake in Pentair by 200.0% during the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after buying an additional 422 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Pentair by 8.8% during the first quarter. Fifth Third Bancorp now owns 3,356 shares of the industrial products company’s stock valued at $287,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.