Brokerages Set Watts Water Technologies Inc (NYSE:WTS) Target Price at $58.50

Watts Water Technologies Inc (NYSE:WTS) has earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, AnalystRatingsNetwork.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $57.33.

Shares of Watts Water Technologies (NYSE:WTS) traded down 4.21% during mid-day trading on Monday, reaching $47.58. The company had a trading volume of 89,005 shares. The company’s market capitalization is $1.64 billion. Watts Water Technologies has a 1-year low of $47.03 and a 1-year high of $64.16. The stock’s 50-day moving average price is $53.38 and its 200 day moving average price is $53.85.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The business had revenue of $366.30 million for the quarter, compared to analyst estimates of $361.05 million. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Equities analysts expect that Watts Water Technologies will post $2.34 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 11th. Investors of record on Monday, November 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, November 25th.

In related news, major shareholder Timothy P. Horne sold 8,653 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $56.50, for a total transaction of $488,894.50. Following the transaction, the insider now owns 91,347 shares in the company, valued at approximately $5,161,105.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $53.70, for a total value of $64,440.00. Following the transaction, the insider now owns 23,735 shares in the company, valued at approximately $1,274,569.50. The disclosure for this sale can be found here.

Several brokerages have recently weighed in on WTS. Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Monday, October 26th. Oppenheimer downgraded Watts Water Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday. They noted that the move was a valuation call. Finally, BB&T Corp. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Friday, October 30th.

12 Month Chart for NYSE:WTS

Watts Water Technologies, Inc. (NYSE:WTS) designs, manufactures and sells water safety and flow control products. The Company operates through three segments: Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. It offers a range of products in terms of design distinction, size and configuration. It classifies its products into four product lines, including residential and commercial flow control products, which includes products for plumbing and hot water applications; heating, ventilation and air conditioning (HVAC) and gas products, including hydronic and electric heating systems for under-floor radiant applications, commercial high-efficiency boilers, water heaters and heating solutions, custom heat and hot water solutions; drainage and water re-use products, including drainage products and engineered rain water harvesting solutions, and water quality products, including point-of-use and point-of-entry water filtration, conditioning and scale prevention systems.

 

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