Pentair (NYSE:PNR) Stock Rating Upgraded by Zacks Research

Pentair (NYSE:PNR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

A number of other equities research analysts also recently weighed in on the stock. Seaport Research Partners downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 15th. Jefferies Financial Group upgraded shares of Pentair to a “strong-buy” rating in a research note on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $65.00 price objective (down from $103.00) on shares of Pentair in a report on Thursday, July 16th. Robert W. Baird decreased their target price on shares of Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Wolfe Research raised shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Hold” and a consensus target price of $87.19.

Pentair Trading Up 0.3%

Pentair stock opened at $52.34 on Wednesday. The business has a 50 day moving average price of $59.93 and a two-hundred day moving average price of $71.21. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Pentair has a 12 month low of $51.13 and a 12 month high of $112.26.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $932.60 million during the quarter, compared to the consensus estimate of $943.24 million. Pentair had a return on equity of 20.62% and a net margin of 16.24%.The company’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. As a group, equities analysts forecast that Pentair will post 4.64 EPS for the current year.

Institutional Investors Weigh In On Pentair

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its stake in shares of Pentair by 1,459.8% in the first quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock valued at $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. Amundi grew its position in Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares during the last quarter. First Trust Advisors LP grew its position in Pentair by 52.9% during the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock worth $105,844,000 after acquiring an additional 420,140 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Pentair during the 1st quarter valued at $28,717,000. Finally, Panagora Asset Management Inc. increased its holdings in Pentair by 26.1% during the 4th quarter. Panagora Asset Management Inc. now owns 1,550,935 shares of the industrial products company’s stock valued at $161,514,000 after purchasing an additional 321,341 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.