Pentair (NYSE:PNR) Given New $105.00 Price Target at Barclays

Pentair (NYSE:PNR) had its target price increased by Barclays from $96.00 to $105.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price points to a potential upside of 9.32% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on PNR. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus upped their target price on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.47.

Pentair Stock Down 0.8 %

Shares of NYSE:PNR traded down $0.76 on Wednesday, hitting $96.05. 890,465 shares of the company traded hands, compared to its average volume of 1,553,063. The company has a market cap of $15.90 billion, a PE ratio of 25.53, a PEG ratio of 1.75 and a beta of 1.20. The stock has a 50 day simple moving average of $87.97 and a 200-day simple moving average of $83.04. Pentair has a 52 week low of $57.18 and a 52 week high of $98.23. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $1.03 earnings per share. Pentair’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts expect that Pentair will post 4.26 earnings per share for the current year.

Hedge Funds Weigh In On Pentair

A number of institutional investors and hedge funds have recently bought and sold shares of PNR. Allspring Global Investments Holdings LLC boosted its position in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital increased its stake in Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares during the period. Fifth Third Bancorp lifted its holdings in Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in Pentair by 4.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

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.