Pentair (NYSE:PNR) Price Target Raised to $64.00 at Morgan Stanley


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Pentair (NYSE:PNR) had its price objective lifted by stock analysts at Morgan Stanley from $60.00 to $64.00 in a research note issued to investors on Monday, Analyst Ratings Network reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential upside of 2.84% from the company’s previous close.

A number of other research firms have also weighed in on PNR. Barclays raised their target price on Pentair from $55.00 to $57.00 and gave the company an “underweight” rating in a report on Tuesday, April 6th. Oppenheimer lifted their price target on Pentair from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Finally, UBS Group lifted their price target on Pentair from $50.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Pentair has a consensus rating of “Hold” and a consensus price target of $53.71.

PNR stock opened at $62.23 on Monday. Pentair has a twelve month low of $29.14 and a twelve month high of $63.41. The company has a quick ratio of 0.69, a current ratio of 1.18 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $60.02 and its 200-day moving average is $54.49. The firm has a market capitalization of $10.33 billion, a PE ratio of 29.63, a P/E/G ratio of 2.64 and a beta of 1.19.

Pentair (NYSE:PNR) last posted its earnings results on Thursday, January 28th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.07. Pentair had a return on equity of 21.27% and a net margin of 11.87%. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $752.85 million. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Pentair will post 2.43 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of PNR. Norges Bank bought a new stake in shares of Pentair in the fourth quarter valued at $99,205,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Pentair by 918.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,093,726 shares of the industrial products company’s stock valued at $58,067,000 after buying an additional 986,317 shares during the period. Nordea Investment Management AB raised its stake in shares of Pentair by 29.6% in the fourth quarter. Nordea Investment Management AB now owns 3,336,303 shares of the industrial products company’s stock valued at $177,124,000 after buying an additional 761,328 shares during the period. Ninety One UK Ltd raised its stake in shares of Pentair by 26.5% in the fourth quarter. Ninety One UK Ltd now owns 2,656,132 shares of the industrial products company’s stock valued at $141,014,000 after buying an additional 556,527 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Pentair by 2.5% in the fourth quarter. BlackRock Inc. now owns 13,390,391 shares of the industrial products company’s stock valued at $710,897,000 after buying an additional 325,170 shares during the period. Hedge funds and other institutional investors own 80.25% of the company’s stock.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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