Pentair (NYSE:PNR) Price Target Cut to $110.00 by Analysts at Barclays

Pentair (NYSE:PNR) had its target price reduced by research analysts at Barclays from $120.00 to $110.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 23.33% from the company’s previous close.

Other analysts also recently issued research reports about the company. KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target on the stock in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.27.

Pentair Trading Down 1.0 %

NYSE PNR opened at $89.19 on Wednesday. Pentair has a 12 month low of $72.63 and a 12 month high of $110.71. The stock has a 50-day simple moving average of $94.86 and a 200 day simple moving average of $98.69. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.70 billion, a PE ratio of 23.85, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. Research analysts forecast that Pentair will post 4.77 EPS for the current year.

Institutional Trading of Pentair

A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its position in shares of Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after purchasing an additional 428,184 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Pentair by 219.0% in the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock worth $60,863,000 after buying an additional 415,163 shares in the last quarter. FMR LLC grew its position in Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock valued at $614,030,000 after acquiring an additional 396,581 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after acquiring an additional 395,962 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Pentair in the 4th quarter worth approximately $36,568,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.