Barclays Has Lowered Expectations for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price objective cut by investment analysts at Barclays from $70.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 31.42% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. KeyCorp reduced their target price on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $74.17.

nVent Electric Stock Down 4.7 %

Shares of NVT traded down $2.41 during trading hours on Thursday, reaching $49.46. 511,030 shares of the stock traded hands, compared to its average volume of 2,364,104. nVent Electric has a 52 week low of $41.71 and a 52 week high of $86.57. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.48 and a beta of 1.21. The stock has a fifty day simple moving average of $58.18 and a 200 day simple moving average of $67.55. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities analysts forecast that nVent Electric will post 3.04 EPS for the current year.

Hedge Funds Weigh In On nVent Electric

Several hedge funds have recently bought and sold shares of NVT. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter valued at $26,000. Capital A Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter valued at $27,000. Whipplewood Advisors LLC increased its stake in nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric in the 4th quarter valued at about $38,000. Finally, Tsfg LLC bought a new stake in shares of nVent Electric during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.