Morgan Stanley analyst Joshua Pokrzywinski maintained a Buy rating on Pentair (PNR) today and set a price target of $57.00. The company’s shares closed last Tuesday at $51.25.
According to TipRanks.com, Pokrzywinski is a 4-star analyst with an average return of 6.7% and a 57.3% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Honeywell International, and Lennox International.
Currently, the analyst consensus on Pentair is a Moderate Buy with an average price target of $51.27, a 1.0% upside from current levels. In a report issued on October 12, Citigroup also maintained a Buy rating on the stock with a $59.00 price target.
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Based on Pentair’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $713 million and net profit of $72.1 million. In comparison, last year the company earned revenue of $800 million and had a net profit of $114 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. It operates through the following business 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. The Filtration Solutions segment distributes water and fluid treatment products and systems, including pressure tanks and vessels, control valves, activated carbon products, conventional filtration products, point-of-entry and point-of-use systems, gas recovery solutions, embrane bioreactors, wastewater reuse systems, and advanced membrane filtration and separation systems. The Flow Technologies segment offers products ranging from light duty diaphragm pumps to high-flow turbine pumps and solid handling pumps. The company was founded by Murray J. Harpole, Vern Stone, Vincent Follmer, Leroy Nelson, and Gary Ostrand on August 31, 1966 and is headquartered in London, the United Kingdom.
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