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

Watts Water Technologies (NYSE:WTS) had its target price increased by The Goldman Sachs Group from $197.00 to $217.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 1.33% from the stock’s current price.

A number of other research firms have also recently issued reports on WTS. Deutsche Bank Aktiengesellschaft initiated coverage on Watts Water Technologies in a report on Tuesday, December 17th. They set a “hold” rating and a $240.00 price target on the stock. Northcoast Research raised shares of 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. Finally, Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $220.00.

Watts Water Technologies Trading Down 0.5 %

WTS opened at $219.93 on Wednesday. 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 price-to-earnings-growth ratio of 3.39 and a beta of 0.93. The company has a fifty day moving average of $208.24 and a 200-day moving average of $203.41. Watts Water Technologies has a twelve month low of $175.37 and a twelve month high of $232.60.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. On average, sell-side analysts predict that Watts Water Technologies will post 8.73 EPS for the current year.

Hedge Funds Weigh In On Watts Water Technologies

Several large investors have recently modified their holdings of WTS. CWM LLC boosted its stake in Watts Water Technologies by 24.4% in the 3rd 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. Inspire Investing LLC lifted its holdings in shares of Watts Water Technologies by 3.8% in the third quarter. Inspire Investing LLC now owns 2,043 shares of the technology company’s stock worth $423,000 after buying an additional 75 shares in the last quarter. Creative Planning lifted its holdings in shares of Watts Water Technologies by 34.3% in the third quarter. Creative Planning now owns 6,913 shares of the technology company’s stock worth $1,432,000 after buying an additional 1,767 shares in the last quarter. B.O.S.S. Retirement Advisors LLC boosted its position in shares of Watts Water Technologies by 36.6% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 2,283 shares of the technology company’s stock valued at $473,000 after acquiring an additional 612 shares during the period. Finally, AlphaMark Advisors LLC grew its stake in Watts Water Technologies by 16.3% during the third quarter. AlphaMark Advisors LLC now owns 1,785 shares of the technology company’s stock valued at $370,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

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.