Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $38.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price target upped by Stifel Nicolaus from $36.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 6.29% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho lifted their target price on shares of Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Hold” and a consensus price target of $38.50.

Zurn Elkay Water Solutions Stock Down 0.3 %

ZWS stock traded down $0.12 during midday trading on Wednesday, reaching $40.55. 90,985 shares of the company were exchanged, compared to its average volume of 1,090,432. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.71 and a current ratio of 2.70. Zurn Elkay Water Solutions has a 1-year low of $27.55 and a 1-year high of $41.15. The stock’s 50-day simple moving average is $38.16 and its 200 day simple moving average is $33.75. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The company had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.55, for a total value of $1,720,300.05. Following the transaction, the vice president now directly owns 80,151 shares of the company’s stock, valued at approximately $2,608,915.05. The trade was a 39.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,088 shares of company stock valued at $7,884,883. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Zurn Elkay Water Solutions during the 3rd quarter worth $234,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Zurn Elkay Water Solutions by 23.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock worth $2,239,000 after purchasing an additional 11,732 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock worth $117,060,000 after purchasing an additional 35,570 shares in the last quarter. Barclays PLC boosted its position in shares of Zurn Elkay Water Solutions by 85.7% during the 3rd quarter. Barclays PLC now owns 304,731 shares of the company’s stock worth $10,952,000 after purchasing an additional 140,624 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Zurn Elkay Water Solutions by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock worth $650,000 after purchasing an additional 449 shares in the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.