KeyCorp Boosts Pentair (NYSE:PNR) Price Target to $115.00

Pentair (NYSE:PNR) had its price target raised by KeyCorp from $110.00 to $115.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price would indicate a potential upside of 16.97% from the company’s current price.

Several other brokerages also recently weighed in on PNR. Mizuho increased their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus raised their price target on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $97.27.

Pentair Price Performance

PNR stock opened at $98.32 on Wednesday. Pentair has a 52 week low of $57.18 and a 52 week high of $99.96. The firm has a market capitalization of $16.27 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $91.94 and a two-hundred day simple moving average of $84.63.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that Pentair will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pentair

Institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Pentair during the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC increased its holdings in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Family Firm Inc. purchased a new stake in Pentair in the 2nd quarter worth $48,000. Blue Trust Inc. increased its holdings in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Pentair in the 1st quarter worth $56,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.