Pentair (NYSE:PNR) Given New $108.00 Price Target at Barclays

Pentair (NYSE:PNR) had its price target lifted by analysts at Barclays from $105.00 to $108.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential upside of 8.66% from the company’s previous close.

Several other research firms have also recently weighed in on PNR. Mizuho lifted their price objective on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Stock Up 1.4 %

Pentair stock opened at $99.39 on Wednesday. The firm has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.76 and a beta of 1.20. The company’s 50 day simple moving average is $92.53 and its 200 day simple moving average is $84.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $99.96.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that Pentair will post 4.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PNR. Wellington Management Group LLP lifted its stake in Pentair by 28.0% in the 4th quarter. Wellington Management Group LLP now owns 221,599 shares of the industrial products company’s stock valued at $16,112,000 after purchasing an additional 48,527 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Pentair by 8.8% during the 1st quarter. Ballentine Partners LLC now owns 3,646 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 295 shares during the period. AMF Tjanstepension AB bought a new position in shares of Pentair during the 1st quarter worth approximately $45,096,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Pentair by 1.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 451,655 shares of the industrial products company’s stock worth $38,589,000 after acquiring an additional 4,861 shares during the last quarter. Finally, Norden Group LLC bought a new stake in Pentair in the 1st quarter valued at $1,103,000. Institutional investors own 92.37% of the company’s stock.

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.