TD Cowen Boosts Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its price objective raised by analysts at TD Cowen from $80.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s target price would suggest a potential upside of 7.99% from the company’s previous close.

PNR has been the subject of a number of other reports. Barclays upped their target price on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer raised their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price target on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday, April 15th. Finally, BNP Paribas started coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Stock Performance

NYSE:PNR traded up $0.24 during mid-day trading on Wednesday, hitting $78.71. 948,787 shares of the company’s stock traded hands, compared to its average volume of 1,634,248. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $80.10 and a two-hundred day moving average of $71.68. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Pentair has a 12 month low of $52.28 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, equities analysts forecast that Pentair will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pentair

Several institutional investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. lifted its stake in Pentair by 4.1% in the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock valued at $304,000 after buying an additional 140 shares in the last quarter. Czech National Bank raised its stake in shares of Pentair by 0.5% in the 1st quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock valued at $2,486,000 after purchasing an additional 143 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Pentair by 0.5% during the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after buying an additional 172 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after buying an additional 173 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

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.