Pentair (NYSE:PNR) Price Target Cut to $69.00 by Analysts at Citigroup

Pentair (NYSE:PNR) had its price objective decreased by research analysts at Citigroup from $85.00 to $69.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 32.10% from the company’s previous close.

A number of other research analysts have also issued reports on PNR. Wolfe Research upgraded Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price for the company in a report on Tuesday, September 15th. Robert W. Baird cut their price target on Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Jefferies Financial Group raised Pentair to a “strong-buy” rating in a research report on Wednesday, October 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 price objective (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. Finally, Oppenheimer lowered their price objective on Pentair from $115.00 to $94.00 and set an “outperform” rating for the company in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.12.

Pentair Stock Down 0.5%

PNR stock traded down $0.24 during midday trading on Monday, hitting $52.23. The company’s stock had a trading volume of 2,254,239 shares, compared to its average volume of 2,430,870. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. Pentair has a 52-week low of $51.13 and a 52-week high of $112.13. The firm has a market capitalization of $8.34 billion, a P/E ratio of 13.12, a PEG ratio of 1.34 and a beta of 1.04. The firm has a 50-day simple moving average of $59.67 and a 200-day simple moving average of $70.95.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The business had revenue of $932.60 million for the quarter, compared to analyst estimates of $943.24 million. During the same quarter in the prior year, the company earned $1.39 earnings per share. The company’s revenue was down 17.0% on a year-over-year basis. As a group, equities analysts forecast that Pentair will post 4.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Amundi raised its position in shares of Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Pentair by 26.1% during the fourth quarter. Panagora Asset Management Inc. now owns 1,550,935 shares of the industrial products company’s stock worth $161,514,000 after purchasing an additional 321,341 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Pentair by 1,459.8% in the first quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock valued at $110,617,000 after purchasing an additional 1,189,122 shares in the last quarter. First Trust Advisors LP boosted its holdings in Pentair by 52.9% in the first quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock valued at $105,844,000 after purchasing an additional 420,140 shares in the last quarter. Finally, 140 Summer Partners LP boosted its holdings in Pentair by 10.7% in the fourth quarter. 140 Summer Partners LP now owns 607,112 shares of the industrial products company’s stock valued at $63,225,000 after purchasing an additional 58,609 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

About Pentair

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.