Royal Bank of Canada Increases Pentair (NYSE:PNR) Price Target to $103.00

Pentair (NYSE:PNR) had its price target raised by equities researchers at Royal Bank of Canada from $101.00 to $103.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 30.05% from the company’s current price.

A number of other research analysts also recently commented on PNR. UBS Group boosted their price target on Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Stifel Nicolaus boosted their price target on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Oppenheimer boosted their price target on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Up 0.3 %

PNR opened at $79.20 on Wednesday. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90. The company has a market capitalization of $13.15 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.50 and a beta of 1.20. The stock has a fifty day moving average of $80.27 and a 200-day moving average of $71.84.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that Pentair will post 4.21 EPS for the current year.

Hedge Funds Weigh In On Pentair

A number of hedge funds and other institutional investors have recently made changes to their positions in PNR. Kodai Capital Management LP acquired a new position in shares of Pentair in the fourth quarter worth approximately $173,280,000. AMF Tjanstepension AB acquired a new position in shares of Pentair in the first quarter worth approximately $45,096,000. Goldman Sachs Group Inc. lifted its stake in shares of Pentair by 138.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after acquiring an additional 484,810 shares during the period. KBC Group NV lifted its stake in Pentair by 49.2% in the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after buying an additional 392,785 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Pentair in the third quarter valued at approximately $21,044,000. 92.37% of the stock is 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.