In a report issued on October 26, Scott Graham from BMO Capital reiterated a Hold rating on nVent Electric plc (NYSE: NVT), with a price target of $26. The company’s shares closed on Friday at $23.92.
According to TipRanks.com, Graham is a 4-star analyst with an average return of 6.4% and a 57.9% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc, Altra Holdings, and Flowserve Corp.
Currently, the analyst consensus on nVent Electric plc is a Moderate Buy with an average price target of $28, which is a 17.1% upside from current levels. In a report issued on October 26, Barclays also maintained a Hold rating on the stock with a $27 price target.
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Based on nVent Electric plc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $68.2 million. In comparison, last year the company had a net profit of $44 million.
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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.
