Watts Water Technologies Inc (WTS) was Downgraded by Seaport Global Securities to ” Neutral” and the brokerage firm has set the Price Target at $58. Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jun 10, 2016.
Many Wall Street Analysts have commented on Watts Water Technologies Inc. Company shares were Reiterated by Wedbush on May 9, 2016 to “Neutral”, Firm has raised the Price Target to $ 60 from a previous price target of $57 .BB&T Capital Mkts Upgraded Watts Water Technologies Inc on May 6, 2016 to ” Buy”, Price Target of the shares are set at $64.
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 opened for trading at $58.72 and hit $59.13 on the upside on Thursday, eventually ending the session at $59.02, with a gain of 0.19% or 0.11 points. The heightened volatility saw the trading volume jump to 1,38,257 shares. Company has a market cap of $2,021 M.
In a different news, on Jun 9, 2016, Kenneth Robert Lepage (General Counsel) sold 15,000 shares at $59.00 per share price. According to the SEC, on Jun 1, 2016, Joseph T Noonan (director) sold 3,922 shares at $57.42 per share price. On May 18, 2016, Elie Melhem (President- APAC, M. East, Afr.) sold 1,238 shares at $55.91 per share price, according to the Form-4 filing with the securities and exchange commission.
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.