Seaport Global Downgrades Watts Water Technologies Inc to Neutral

Brokerage firm Seaport Global Downgrades its rating on Watts Water Technologies Inc(NYSE:WTS). The shares have been rated Neutral. Previously, the analysts had a Accumulate rating on the shares. The rating by Seaport Global was issued on Jun 10, 2016.

In a different note, On May 6, 2016, BB&T Capital said it Upgrades its rating on Watts Water Technologies Inc. The shares have been rated ‘Buy’ by the firm.

Watts Water Technologies Inc (WTS) made into the market gainers list on Wednesdays trading session with the shares advancing 0.97% or 0.56 points. Due to strong positive momentum, the stock ended at $58.2, which is also near the day’s high of $58.8. The stock began the session at $57.85 and the volume stood at 1,31,838 shares. The 52-week high of the shares is $60.22 and the 52 week low is $44.51. The company has a current market capitalization of $1,992 M and it has 3,42,35,081 shares in outstanding.

Watts Water Technologies Inc(WTS) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $344.20M. Analysts had an estimated revenue of $336.97M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.49.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Kenneth Robert Lepage (General Counsel) sold 15,000 shares at $59.00 per share price.Also, On Jun 6, 2016, Timothy P Horne (10% owner) sold 25,000 shares at $57.50 per share price.On Jun 1, 2016, Joseph T Noonan (director) sold 3,922 shares at $57.42 per share price, according to the Form-4 filing with the securities and exchange commission.

Watts Water Technologies Inc. (Watts Water) designs manufactures and sells water safety and flow control products. The Company operates through three segments: Americas; Europe Middle East and Africa (EMEA) and Asia-Pacific. It offers a range of products in terms of design distinction size and configuration. It classifies its products into four product lines including residential and commercial flow control products which includes products for plumbing and hot water applications; heating ventilation and air conditioning (HVAC) and gas products including hydronic and electric heating systems for under-floor radiant applications commercial high-efficiency boilers water heaters and heating solutions custom heat and hot water solutions; drainage and water re-use products including drainage products and engineered rain water harvesting solutions and water quality products including point-of-use and point-of-entry water filtration conditioning and scale prevention systems.

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