The Goldman Sachs Group Forecasts Strong Price Appreciation for Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies (NYSE:WTS) had its target price hoisted by The Goldman Sachs Group from $197.00 to $217.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 1.33% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They set 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 on the stock in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and an average target price of $220.00.

Watts Water Technologies Stock Down 0.5 %

WTS opened at $219.93 on Wednesday. The business’s fifty day simple moving average is $208.24 and its 200 day simple moving average is $203.41. Watts Water Technologies has a 52 week low of $175.37 and a 52 week high of $232.60. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The stock has a market cap of $7.33 billion, a PE ratio of 26.37, a P/E/G ratio of 3.39 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. As a group, research analysts expect that Watts Water Technologies will post 8.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WTS. V Square Quantitative Management LLC purchased a new stake in Watts Water Technologies in the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its position in shares of Watts Water Technologies by 59.8% in the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after purchasing an additional 58 shares during the period. Headlands Technologies LLC increased its stake in shares of Watts Water Technologies by 329.1% in the fourth quarter. Headlands Technologies LLC now owns 236 shares of the technology company’s stock worth $48,000 after purchasing an additional 181 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Watts Water Technologies during the 3rd quarter valued at $68,000. Finally, Huntington National Bank raised its position in shares of Watts Water Technologies by 60.5% during the 4th quarter. Huntington National Bank now owns 366 shares of the technology company’s stock valued at $74,000 after purchasing an additional 138 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

About Watts Water Technologies

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.