Watts Water Technologies Receives a Hold from Oppenheimer

In a report released today, Jim Giannakouros from Oppenheimer maintained a Hold rating on Watts Water Technologies (NYSE: WTS). The company’s shares closed on Friday at $74.65.

Giannakouros wrote:

“WTS reported adj. 1Q18 EPS of $0.82, above our $0.79E on better than expected sales (across segments) and NA/AsiaPac margins. WTS continues to leverage past restructuring actions, product/business portfolio upgrades, and productivity/Lean initiatives across segments. While management maintained its top-line and margin expansion expectations for the year, NA is tracking toward the higher end of its guided +3-5%. That said, still lower growth in Europe (+1-3%E y/y) caps organic (and margin expansion) acceleration prospects near-term and so we nudge our estimates up primarily reflecting the 1Q beat. We appreciate WTS’s ability to leverage a stable res/non-res and repair/replacement backdrop with (self-help runway, driving DD EPS growth), with upside on portfolio upgrades over time.”

According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 4.6% and a 49.0% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Carlisle Companies Inc, and Flowserve Corp.

Currently, the analyst consensus on Watts Water Technologies is Moderate Buy and the average price target is $85, representing a 13.9% upside.

In a report issued on May 4, Boenning & Scattergood also maintained a Hold rating on the stock.

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The company has a one-year high of $84.25 and a one-year low of $59.15. Currently, Watts Water Technologies has an average volume of 126.6K.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock.

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Watts Water Technologies, Inc. engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and APMEA.