After Barclays and Rosenblatt Securities gave nVent Electric (NYSE: NVT) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Deane Dray maintained a Buy rating on nVent Electric today and set a price target of $21.00. The company’s shares closed last Wednesday at $17.23.
According to TipRanks.com, Dray is a 4-star analyst with an average return of 1.9% and a 49.7% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Emerson Electric Company, and Honeywell International.
nVent Electric has an analyst consensus of Strong Buy, with a price target consensus of $25.40, a 49.7% upside from current levels. In a report issued on April 15, Rosenblatt Securities also maintained a Buy rating on the stock with a $25.00 price target.
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nVent Electric’s market cap is currently $2.81B and has a P/E ratio of 13.40. The company has a Price to Book ratio of -3.46.
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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. The Thermal Management segment includes electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes, and people. The Electrical & Fastening Solution segment consists of fastening solutions that connect and protect electrical and mechanical systems and civil structures. The company was founded on May 30, 2017 and is headquartered in London, the United Kingdom.
