Watts Water Technologies (NYSE:WTS) was downgraded by investment analysts at TheStreet from a “b+” rating to a “c+” rating in a research note issued to investors on Monday.

A number of other research analysts have also weighed in on WTS. Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a research report on Thursday, November 2nd. Robert W. Baird raised their price objective on Watts Water Technologies from $71.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Watts Water Technologies in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Seaport Global Securities restated a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.17.

Watts Water Technologies (NYSE WTS) opened at $75.60 on Monday. The firm has a market capitalization of $2,580.00, a PE ratio of 35.66, a PEG ratio of 1.76 and a beta of 1.13. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Watts Water Technologies has a 12-month low of $59.15 and a 12-month high of $82.35.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $366.30 million during the quarter, compared to analyst estimates of $365.35 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. sell-side analysts forecast that Watts Water Technologies will post 3.01 EPS for the current year.

In related news, insider Elie Melhem sold 2,545 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.48, for a total value of $179,371.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 3,951 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $73.09, for a total transaction of $288,778.59. Following the completion of the sale, the chief executive officer now directly owns 137,474 shares of the company’s stock, valued at approximately $10,047,974.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,348 shares of company stock valued at $1,339,628. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in WTS. SeaCrest Wealth Management LLC bought a new stake in Watts Water Technologies in the fourth quarter worth about $112,000. Public Employees Retirement System of Ohio lifted its stake in Watts Water Technologies by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after purchasing an additional 17 shares during the last quarter. Ballentine Partners LLC bought a new stake in Watts Water Technologies in the third quarter worth about $200,000. Suntrust Banks Inc. lifted its stake in Watts Water Technologies by 1.0% in the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after purchasing an additional 31 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Watts Water Technologies in the second quarter worth about $215,000. 78.21% of the stock is owned by institutional investors and hedge funds.

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About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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