Oppenheimer analyst Jim Giannakouros maintained a Hold rating on Pentair (NYSE: PNR) today. The company’s shares opened today at $44.63.
Giannakouros wrote:
“We revise our PNR model to reflect the spinoff of NVT (completed 4/30), with no change to our Perform rating. We continue to view PNR as well positioned for stronger core growth (+4% y/y in 1Q18 a solid start to the year) and margin/returns expansion, with benefits from healthy underlying market demand (80% resi/non-res exposure), enhanced focus on innovation/differentiation and digital capabilities, and PIMS cost initiatives supporting our ’18-’19 modeling. That said, we believe accelerated growth investments may cap near-term ROS progression and restrict upside to PNR’s EPS trajectory longer term if traction is slow to materialize. We therefore remain on the sidelines pending greater conviction in “New PNR” strategies (i.e., needle-moving upside to our core growth and profit expectations) and/or a pullback in valuation.”
According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 4.3% and a 48.6% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.
Currently, the analyst consensus on Pentair is Hold and the average price target is $59.22, representing a 32.7% upside.
In a report released yesterday, Robert W. Baird also maintained a Hold rating on the stock with a $46 price target.
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Based on Pentair’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.27 billion and quarterly net profit of $103 million. In comparison, last year the company earned revenue of $1.18 billion and had a net profit of $87.8 million.
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Pentair Plc is a diversified industrial manufacturing company, which engages in the business of industrial manufacturing. It specializes in equipment protection to water, fluid, and in thermal management. It operates through the Water and Electrical segments.
