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

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

Several other equities analysts have also recently issued reports on ZWS. Mizuho boosted 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 research note on Thursday, October 31st. Oppenheimer boosted their price target on shares of Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Zurn Elkay Water Solutions has an average rating of “Hold” and a consensus price target of $38.50.

Zurn Elkay Water Solutions Stock Down 0.3 %

NYSE ZWS traded down $0.12 during trading on Wednesday, reaching $40.55. 90,985 shares of the company’s stock traded hands, compared to its average volume of 1,090,432. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.71. The firm 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. The company’s 50 day simple moving average is $38.16 and its two-hundred day simple moving average is $33.75. Zurn Elkay Water Solutions has a 12-month low of $27.55 and a 12-month high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS) last released its earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. Zurn Elkay Water Solutions’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions

In other news, CFO David J. Pauli sold 4,070 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $159,340.50. Following the sale, the chief financial officer now owns 47,572 shares of the company’s stock, valued at approximately $1,862,443.80. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction dated 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 directly owns 2,242,867 shares in the company, valued at $89,333,392.61. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,088 shares of company stock valued at $7,884,883 over the last 90 days. 3.80% of the stock is owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Zurn Elkay Water Solutions in the third quarter valued at approximately $234,000. Teachers Retirement System of The State of Kentucky raised its holdings in Zurn Elkay Water Solutions by 23.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,291 shares of the company’s stock valued at $2,239,000 after acquiring an additional 11,732 shares in the last quarter. Geode Capital Management LLC raised its holdings in Zurn Elkay Water Solutions by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,256,457 shares of the company’s stock valued at $117,060,000 after acquiring an additional 35,570 shares in the last quarter. Barclays PLC raised its holdings in Zurn Elkay Water Solutions by 85.7% in the third quarter. Barclays PLC now owns 304,731 shares of the company’s stock valued at $10,952,000 after acquiring an additional 140,624 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in Zurn Elkay Water Solutions by 2.5% in the third quarter. MML Investors Services LLC now owns 18,077 shares of the company’s stock valued at $650,000 after acquiring an additional 449 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.