Pentair (NYSE:PNR) Stock Rating Raised to “Hold” at Zacks Research

Pentair (NYSE:PNR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Several other research firms have also recently weighed in on PNR. Wolfe Research raised shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a report on Tuesday, September 15th. Stifel Nicolaus restated a “hold” rating and set a $65.00 target price (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. Royal Bank Of Canada lowered Pentair from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $101.00 to $74.00 in a research note on Wednesday, July 15th. Robert W. Baird lowered their price target on Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Seaport Research Partners downgraded Pentair from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.19.

Pentair Price Performance

Shares of NYSE:PNR opened at $52.34 on Wednesday. The company has a 50 day moving average of $59.93 and a 200 day moving average of $71.21. The stock has a market cap of $8.35 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 1.04. Pentair has a 12 month low of $51.13 and a 12 month high of $112.26. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The business had revenue of $932.60 million for the quarter, compared to analyst estimates of $943.24 million. During the same quarter in the prior year, the firm posted $1.39 EPS. Pentair’s revenue was down 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that Pentair will post 4.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Pentair

Large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new position in shares of Pentair in the 2nd quarter worth about $244,000. Alan B Lancz & Associates Inc. bought a new position in shares of Pentair during the 2nd quarter valued at about $43,000. Wedmont Private Capital purchased a new position in shares of Pentair during the 2nd quarter valued at about $56,000. HB Wealth Management LLC purchased a new position in shares of Pentair during the 2nd quarter valued at about $91,000. Finally, Saudi Central Bank bought a new stake in Pentair in the 2nd quarter worth approximately $141,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.