Oppenheimer Believes Pentair (NYSE: PNR) Still Has Room to Grow

Oppenheimer analyst Bryan Blair assigned a Buy rating to Pentair (PNRResearch Report) today and set a price target of $75.00. The company’s shares closed last Friday at $66.66, close to its 52-week high of $70.76.

According to TipRanks.com, Blair is a 5-star analyst with an average return of 25.7% and a 72.1% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

Pentair has an analyst consensus of Hold, with a price target consensus of $71.25, a 5.1% upside from current levels. In a report released today, Citigroup also maintained a Buy rating on the stock with a $81.00 price target.

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The company has a one-year high of $70.76 and a one-year low of $35.61. Currently, Pentair has an average volume of 971.4K.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PNR in relation to earlier this year.

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Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. It operates through the following business segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories. The Filtration Solutions segment distributes water and fluid treatment products and systems, including pressure tanks and vessels, control valves, activated carbon products, conventional filtration products, point-of-entry and point-of-use systems, gas recovery solutions, embrane bioreactors, wastewater reuse systems, and advanced membrane filtration and separation systems. The Flow Technologies segment offers products ranging from light duty diaphragm pumps to high-flow turbine pumps and solid handling pumps. The company was founded by Murray J. Harpole, Vern Stone, Vincent Follmer, Leroy Nelson, and Gary Ostrand on August 31, 1966 and is headquartered in London, the United Kingdom.