Waters (NYSE:WAT) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of Waters (NYSE:WAT) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

A number of other research firms have also recently weighed in on WAT. Wolfe Research began coverage on Waters in a report on Thursday, May 30th. They issued an underperform rating for the company. UBS Group lowered their price target on Waters from $248.00 to $230.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Robert W. Baird lowered their price target on Waters from $211.00 to $209.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Zacks Investment Research raised Waters from a sell rating to a hold rating and set a $217.00 price target on the stock in a report on Wednesday, May 22nd. Finally, Bank of America cut Waters from a neutral rating to an underperform rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Waters has a consensus rating of Hold and an average target price of $210.54.

Shares of Waters stock traded down $2.24 on Thursday, hitting $209.52. The company’s stock had a trading volume of 471,900 shares, compared to its average volume of 621,284. Waters has a 52-week low of $167.93 and a 52-week high of $255.21. The company has a quick ratio of 2.89, a current ratio of 1.35 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $214.37. The stock has a market cap of $14.82 billion, a P/E ratio of 25.27, a P/E/G ratio of 2.37 and a beta of 1.07.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, July 30th. The medical instruments supplier reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.03. Waters had a return on equity of 50.28% and a net margin of 24.09%. The business had revenue of $599.20 million during the quarter, compared to analysts’ expectations of $601.46 million. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts expect that Waters will post 9.01 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC acquired a new stake in shares of Waters during the 1st quarter valued at $43,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Waters during the 1st quarter valued at $63,000. Thor Advisors LLC acquired a new stake in shares of Waters during the 1st quarter valued at $64,000. Amica Retiree Medical Trust acquired a new stake in shares of Waters during the 2nd quarter valued at $69,000. Finally, Whittier Trust Co. boosted its holdings in shares of Waters by 23.0% during the 1st quarter. Whittier Trust Co. now owns 369 shares of the medical instruments supplier’s stock valued at $93,000 after acquiring an additional 69 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors and hedge funds.

About Waters

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

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Analyst Recommendations for Waters (NYSE:WAT)

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