The Goldman Sachs Group Raises Pentair (NYSE:PNR) Price Target to $103.00

Pentair (NYSE:PNR) had its target price boosted by The Goldman Sachs Group from $93.00 to $103.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 5.97% from the company’s previous close.

Several other research analysts have also commented on the company. Oppenheimer boosted their price objective on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays boosted their price objective on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Mizuho boosted their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.93.

Pentair Price Performance

PNR stock traded down $1.12 during mid-day trading on Wednesday, reaching $97.20. 403,499 shares of the company traded hands, compared to its average volume of 1,555,513. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The company has a market capitalization of $16.09 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.78 and a beta of 1.20. Pentair has a 52-week low of $57.18 and a 52-week high of $99.96. The company has a fifty day moving average price of $91.94 and a 200-day moving average price of $84.63.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, analysts anticipate that Pentair will post 4.26 earnings per share for the current year.

Hedge Funds Weigh In On Pentair

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