Watts Water Technologies Analysts Boost Their Forecasts After Better-Than-Expected Results

Core Insights - Watts Water Technologies, Inc. reported better-than-expected fourth-quarter financial results, with earnings of $2.05 per share, surpassing the analyst consensus estimate of$1.91 per share [1] - The company achieved quarterly sales of $540.400 million, exceeding the analyst consensus estimate of$537.260 million [1] Financial Performance - The CEO highlighted record results for the quarter and full year, including record operating income, adjusted earnings per share, and full year sales [2] - Despite the positive financial results, shares of Watts Water Technologies fell by 1.8% to $220.61 [2] Analyst Reactions - Following the earnings announcement, analysts adjusted their price targets for Watts Water Technologies [3] - Stifel analyst Nathan Jones maintained a Hold rating and raised the price target from$218 to $219 [4] - Goldman Sachs analyst Brian Lee maintained a Neutral rating and increased the price target from$197 to $217 [4]