Pentair (NYSE:PNR) Price Target Cut to $98.00 by Analysts at Citigroup

Pentair (NYSE:PNR) had its target price cut by equities researchers at Citigroup from $118.00 to $98.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 18.44% from the stock’s current price.

Several other research firms also recently issued reports on PNR. KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Tuesday, March 25th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.87.

Pentair Stock Up 0.7 %

NYSE:PNR traded up $0.55 during mid-day trading on Monday, reaching $82.74. The stock had a trading volume of 1,449,526 shares, compared to its average volume of 1,497,576. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business’s 50 day moving average is $89.54 and its 200 day moving average is $97.77. The stock has a market cap of $13.65 billion, a P/E ratio of 22.12, a PEG ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, sell-side analysts predict that Pentair will post 4.77 earnings per share for the current year.

Institutional Trading of Pentair

Several institutional investors and hedge funds have recently bought and sold shares of PNR. Portside Wealth Group LLC boosted its stake in shares of Pentair by 8.2% during the 1st quarter. Portside Wealth Group LLC now owns 3,542 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 269 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Pentair by 2.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,170 shares of the industrial products company’s stock worth $2,727,000 after purchasing an additional 734 shares during the period. Wedmont Private Capital lifted its position in shares of Pentair by 5.9% during the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 209 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in Pentair by 1.9% in the first quarter. Piscataqua Savings Bank now owns 14,666 shares of the industrial products company’s stock valued at $1,283,000 after purchasing an additional 274 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Pentair by 20.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,777 shares of the industrial products company’s stock worth $1,030,000 after acquiring an additional 2,023 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.