Barclays Lowers nVent Electric (NYSE:NVT) Price Target to $75.00

nVent Electric (NYSE:NVT) had its price objective decreased by research analysts at Barclays from $83.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 37.33% from the company’s previous close.

Several other equities research analysts have also issued reports on NVT. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $82.00.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $54.61 on Wednesday. The firm has a market capitalization of $9.01 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $62.58 and its 200 day simple moving average is $68.82. nVent Electric has a 12 month low of $51.99 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, analysts anticipate that nVent Electric will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NVT. Larson Financial Group LLC boosted its position in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Crews Bank & Trust bought a new stake in nVent Electric in the fourth quarter worth $26,000. Capital A Wealth Management LLC bought a new position in shares of nVent Electric during the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric in the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new position in nVent Electric in the 3rd quarter worth about $44,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.