Pentair (NYSE:PNR) Price Target Raised to $85.00 at TD Cowen

Pentair (NYSE:PNR) had its target price raised by research analysts at TD Cowen from $80.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price objective points to a potential upside of 7.99% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. KeyCorp increased their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Mizuho lifted their price target on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Performance

Shares of Pentair stock traded up $0.24 during trading on Wednesday, reaching $78.71. The company’s stock had a trading volume of 948,787 shares, compared to its average volume of 1,634,248. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The firm has a market cap of $13.07 billion, a PE ratio of 20.96, a P/E/G ratio of 1.51 and a beta of 1.20. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81. The company has a 50-day moving average price of $80.10 and a two-hundred day moving average price of $71.68.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Pentair will post 4.2 EPS for the current year.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently made changes to their positions in the stock. Kodai Capital Management LP purchased a new position in shares of Pentair in the 4th quarter worth about $173,280,000. AMF Tjanstepension AB purchased a new stake in Pentair during the first quarter worth approximately $45,096,000. Goldman Sachs Group Inc. boosted its position in Pentair by 138.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after purchasing an additional 484,810 shares during the period. KBC Group NV lifted its stake in shares of Pentair by 49.2% during the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock worth $86,601,000 after purchasing an additional 392,785 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Pentair in the third quarter valued at about $21,044,000. Institutional investors and hedge funds 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.