Could Watts Water Technologies Inc (WTS) Go Down? The Stock Formed Multiple Bottom Chart Pattern

September 17, 2017 - By Ellis Scott

Investors sentiment decreased to 0.94 in 2016 Q4. Its down 0.15, from 1.09 in 2016Q3. It dropped, as 12 investors sold Watts Water Technologies Inc shares while 69 reduced holdings. 30 funds opened positions while 46 raised stakes. 26.40 million shares or 2.84% less from 27.18 million shares in 2016Q3 were reported.
Louisiana State Employees Retirement Sys has 0.04% invested in Watts Water Technologies Inc (NYSE:WTS). Legal General Grp Inc Public Ltd Company has 48,633 shares. Schaper Benz Wise Inv Counsel Wi invested in 0.06% or 4,775 shares. Hutchin Hill L P owns 18,400 shares for 0.04% of their portfolio. Oppenheimer & holds 0.03% in Watts Water Technologies Inc (NYSE:WTS) or 14,053 shares. Pinebridge Investments L P has invested 0.03% of its portfolio in Watts Water Technologies Inc (NYSE:WTS). Great Lakes Advsrs Limited Co holds 0.05% or 30,323 shares. 2,150 were reported by Hanson Doremus Invest Mngmt. Vanguard Gru Incorporated Inc owns 2.38M shares or 0.01% of their US portfolio. Proshare Advsr Ltd Limited Liability Company accumulated 5,087 shares or 0% of the stock. Brown Brothers Harriman & has invested 0.01% in Watts Water Technologies Inc (NYSE:WTS). Timessquare Mngmt reported 341,060 shares. 14,540 are owned by Bnp Paribas Arbitrage. State Board Of Administration Of Florida Retirement Systems reported 0% in Watts Water Technologies Inc (NYSE:WTS). Moreover, Hexavest has 0% invested in Watts Water Technologies Inc (NYSE:WTS) for 1,400 shares.

Since June 9, 2017, it had 0 insider buys, and 1 insider sale for $82,528 activity.

The stock of Watts Water Technologies Inc (WTS) shows a multiple bottoms pattern with $59.52 target or 7.00 % below today’s $64.00 share price. The 5 months chart pattern indicates high risk for the $2.19 billion company. It was reported on Sep, 17 by Finviz.com. If the $59.52 price target is reached, the company will be worth $153.30 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.87% or $0.55 on September 15, reaching $64. About 256,374 shares traded or 121.59% up from the average. Watts Water Technologies Inc (NYSE:WTS) has risen 15.50% since September 17, 2016 and is uptrending. It has underperformed by 1.20% the S&P500.

Analysts await Watts Water Technologies Inc (NYSE:WTS) to report earnings on November, 1. They expect $0.77 earnings per share, up 8.45 % or $0.06 from last year’s $0.71 per share. WTS’s profit will be $26.35M for 20.78 P/E if the $0.77 EPS becomes a reality. After $0.83 actual earnings per share reported by Watts Water Technologies Inc for the previous quarter, Wall Street now forecasts -7.23 % negative EPS growth.

Watts Water Technologies Inc (NYSE:WTS) Ratings Coverage

Among 8 analysts covering Watts Water Technologies (NYSE:WTS), 3 have Buy rating, 0 Sell and 5 Hold. Therefore 38% are positive. Watts Water Technologies had 13 analyst reports since August 17, 2015 according to SRatingsIntel. The stock of Watts Water Technologies Inc (NYSE:WTS) earned “Market Perform” rating by Cowen & Co on Monday, August 17. The rating was maintained by Boenning & Scattergood with “Buy” on Thursday, August 3. The stock of Watts Water Technologies Inc (NYSE:WTS) earned “Neutral” rating by Goldman Sachs on Wednesday, March 8. Northcoast initiated Watts Water Technologies Inc (NYSE:WTS) on Friday, July 8 with “Neutral” rating. The stock of Watts Water Technologies Inc (NYSE:WTS) earned “Hold” rating by Oppenheimer on Wednesday, June 14. The rating was downgraded by Seaport Global on Friday, June 10 to “Neutral”. The firm has “Hold” rating given on Friday, May 5 by Oppenheimer. Zacks upgraded the shares of WTS in report on Monday, September 21 to “Buy” rating. Cowen & Co maintained the stock with “Hold” rating in Thursday, July 20 report. BB&T Capital upgraded the stock to “Buy” rating in Friday, May 6 report.

More notable recent Watts Water Technologies Inc (NYSE:WTS) news were published by: Seekingalpha.com which released: “Watts Water Technologies (WTS) CEO Robert Pagano on Q4 2016 Results – Earnings …” on February 10, 2017, also Nasdaq.com with their article: “Watts Water Technologies, Inc. (WTS) Ex-Dividend Date Scheduled for August 30 …” published on August 29, 2017, Seekingalpha.com published: “Watts Water Technologies’ (WTS) CEO Bob Pagano on Q2 2017 Results – Earnings …” on August 03, 2017. More interesting news about Watts Water Technologies Inc (NYSE:WTS) were released by: Businesswire.com and their article: “Watts Water Technologies Second Quarter 2017 Earnings Conference Call” published on July 13, 2017 as well as Seekingalpha.com‘s news article titled: “Watts Water Pursuing Multiple Avenues Of Self-Improvement” with publication date: December 14, 2016.

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