Pentair (NYSE:PNR) Price Target Increased to $52.00 by Analysts at Cowen

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Pentair (NYSE:PNR) had its target price lifted by analysts at Cowen from $45.00 to $52.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Cowen’s target price points to a potential upside of 15.43% from the company’s previous close.

A number of other equities analysts have also recently weighed in on PNR. Morgan Stanley set a $43.00 price target on Pentair and gave the stock a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group began coverage on Pentair in a research note on Friday, September 20th. They set a “hold” rating for the company. Seaport Global Securities reiterated a “buy” rating on shares of Pentair in a research report on Tuesday, October 15th. Finally, Zacks Investment Research raised shares of Pentair from a “sell” rating to a “hold” rating and set a $44.00 price target on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.50.

Shares of NYSE PNR opened at $45.05 on Monday. The firm’s 50-day moving average price is $42.97 and its 200-day moving average price is $38.37. Pentair has a 52-week low of $34.50 and a 52-week high of $45.70. The company has a market cap of $7.53 billion, a PE ratio of 19.17, a PEG ratio of 3.64 and a beta of 1.23. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.60.

Pentair (NYSE:PNR) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $713.60 million during the quarter, compared to the consensus estimate of $719.07 million. Pentair had a return on equity of 21.35% and a net margin of 11.92%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts anticipate that Pentair will post 2.35 EPS for the current fiscal year.

In other Pentair news, Director Glynis Bryan sold 6,116 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $42.00, for a total transaction of $256,872.00. Following the completion of the transaction, the director now owns 25,815 shares of the company’s stock, valued at $1,084,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 18,348 shares of company stock valued at $791,043 in the last three months. Insiders own 0.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of PNR. Private Capital Group LLC raised its position in Pentair by 445.0% in the second quarter. Private Capital Group LLC now owns 594 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Horan Capital Advisors LLC. acquired a new stake in Pentair in the third quarter valued at $26,000. HM Payson & Co. purchased a new stake in Pentair during the 2nd quarter worth about $28,000. AdvisorNet Financial Inc boosted its position in shares of Pentair by 35.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 990 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 260 shares in the last quarter. Finally, Covington Capital Management increased its holdings in shares of Pentair by 25.0% in the 3rd quarter. Covington Capital Management now owns 1,250 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 250 shares during the last quarter. 84.58% of the stock is currently owned by institutional investors.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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