Watts Water Technologies Inc (WTS) is Upgraded by BB&T Capital Mkts to Buy, Price Target at $64

Watts Water Technologies Inc (WTS) was Upgraded by BB&T Capital Mkts to ” Buy” and the brokerage firm has set the Price Target at $64. Earlier the firm had a rating of “Hold ” on the company shares. BB&T Capital Mkts advised their investors in a research report released on May 6, 2016.

On the company’s financial health, Watts Water Technologies Inc reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.49. The company had revenue of $344.20 million for the quarter, compared to analysts expectations of $337.02 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Watts Water Technologies Inc closed down -0.7 points or -1.24% at $55.9 with 1,48,852 shares getting traded on Wednesday. Post opening the session at $56.23, the shares hit an intraday low of $55.31 and an intraday high of $57.3 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 2, 2016, Elie Melhem (President- APAC, M. East, Afr.) sold 1,000 shares at $52.09 per share price. According to the SEC, on Feb 22, 2016, John K Mcgillicuddy (director) sold 1,000 shares at $53.47 per share price.

Watts Water Technologies Inc. (Watts Water) designs manufactures and sells water safety and flow control products. The Company operates through three segments: Americas; Europe Middle East and Africa (EMEA) and Asia-Pacific. It offers a range of products in terms of design distinction size and configuration. It classifies its products into four product lines including residential and commercial flow control products which includes products for plumbing and hot water applications; heating ventilation and air conditioning (HVAC) and gas products including hydronic and electric heating systems for under-floor radiant applications commercial high-efficiency boilers water heaters and heating solutions custom heat and hot water solutions; drainage and water re-use products including drainage products and engineered rain water harvesting solutions and water quality products including point-of-use and point-of-entry water filtration conditioning and scale prevention systems.

Watts Water Technologies Inc

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