Watts Water Technologies (NYSE:WTS) saw its price target lowered by analysts at Royal Bank of Canada from $417.00 to $397.00 on Friday. The firm maintained a "sector perform" rating, suggesting a potential upside of 15.01% from the company's previous close. This adjustment comes amid mixed reviews from other analysts, with Stifel Nicolaus setting a higher target at $445.00, while Goldman Sachs and Barclays offered more conservative outlooks.
The stock closed at $345.20 on Friday, down $2.26, with a trading volume of 169,819 shares. Watts Water Technologies has a market cap of $11.52 billion and a P/E ratio of 25.84. The company recently reported strong quarterly earnings, beating estimates with $3.40 EPS and revenue of $728.00 million, up 19.0% year-over-year.
Analysts have assigned Watts Water Technologies a consensus rating of "Moderate Buy" with a target price of $369.80. Institutional investors hold 95.02% of the stock, with several large investors increasing their positions in recent quarters. The company designs and manufactures products for water management in plumbing, heating, and cooling systems.