In a report released today, Bryan Blair from Oppenheimer assigned a Hold rating to Pentair (PNR). The company’s shares opened today at $39.74.
Blair said:
“PNR reported adj. 1Q19 EPS of $0.43 (in line with pre-announced results), with first- quarter weakness (core sales -4%, segment income -16% y/y) significantly impacted by cold and wet weather. Related pressures were most pronounced in high-margin Aquatics and specialty ag (Flow) businesses, with elevated channel inventories also affecting 2Q expectations and driving some uncertainty regarding 2H19 cadence. Assuming underlying Aquatics demand remains solid (very much PNR’s message), we believe there may be some upside vs. muted near-term growth expectations. That said, we believe many investors will need time (further evidence of steadied fundamentals) before getting constructive on PNR’s intermediate-term prospects.”
According to TipRanks.com, Blair is a 4-star analyst with an average return of 10.5% and a 78.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Lincoln Electric Holdings, and Watts Water Technologies.
Currently, the analyst consensus on Pentair is a Hold with an average price target of $43.86, representing a 10.4% upside. In a report issued on April 9, RBC Capital also maintained a Hold rating on the stock with a $42 price target.
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Based on Pentair’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $92.9 million. In comparison, last year the company had a net profit of $103 million.
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Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it.
