Barclays Issues Pessimistic Forecast for Pentair (NYSE:PNR) Stock Price

Pentair (NYSE:PNR - Get Free Report) had its price target reduced by stock analysts at Barclays from $120.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Barclays's price objective would suggest a potential upside of 26.79% from the company's previous close.

A number of other brokerages have also recently commented on PNR. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. KeyCorp reissued a "sector weight" rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Wolfe Research started coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. Citigroup cut their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pentair presently has a consensus rating of "Moderate Buy" and an average price target of $112.27.

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Pentair Stock Performance

Shares of NYSE PNR traded down $2.55 during mid-day trading on Wednesday, hitting $86.76. 1,068,217 shares of the company were exchanged, compared to its average volume of 1,466,819. The stock has a 50 day simple moving average of $94.54 and a 200-day simple moving average of $98.77. Pentair has a 1-year low of $72.63 and a 1-year high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. On average, sell-side analysts forecast that Pentair will post 4.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently made changes to their positions in the business. Pathstone Holdings LLC raised its position in Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company's stock valued at $1,944,000 after purchasing an additional 6,391 shares during the period. Cerity Partners LLC grew its stake in shares of Pentair by 130.3% in the third quarter. Cerity Partners LLC now owns 32,160 shares of the industrial products company's stock valued at $3,145,000 after buying an additional 18,196 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Pentair in the third quarter valued at about $247,000. Algert Global LLC purchased a new stake in shares of Pentair during the 3rd quarter valued at about $479,000. Finally, Daiwa Securities Group Inc. lifted its position in Pentair by 30.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company's stock worth $5,856,000 after acquiring an additional 14,057 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.

Pentair Company Profile

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.