Select Water Solutions (NYSE:WTTR) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Select Water Solutions from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings and three Hold ratings.
• Other analysts remain positive: Bank of America and UBS set $28 price targets, while the consensus target is $24.57.
• Select Water Solutions exceeded quarterly expectations, reporting $0.17 in EPS versus $0.13 expected and $395.81 million in revenue versus $373.33 million expected; revenue increased 8.7% year over year.

Select Water Solutions (NYSE:WTTR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Bank of America boosted their price target on Select Water Solutions from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday. UBS Group reiterated a "buy" rating and set a $28.00 price objective on shares of Select Water Solutions in a research note on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. Raymond James Financial cut shares of Select Water Solutions from a "strong-buy" rating to an "outperform" rating and boosted their target price for the company from $24.00 to $26.00 in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Select Water Solutions in a report on Friday, August 21st. They set an "overweight" rating and a $24.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.57.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $20.01 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of 71.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40. The stock's fifty day moving average price is $19.95 and its two-hundred day moving average price is $18.41. Select Water Solutions has a one year low of $9.28 and a one year high of $22.55.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The firm had revenue of $395.81 million during the quarter, compared to the consensus estimate of $373.33 million. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. As a group, research analysts expect that Select Water Solutions will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in shares of Select Water Solutions by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 285,084 shares of the company's stock valued at $5,696,000 after purchasing an additional 82,902 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Select Water Solutions by 37.3% during the 2nd quarter. NewEdge Advisors LLC now owns 306,424 shares of the company's stock valued at $6,122,000 after purchasing an additional 83,296 shares during the last quarter. Sei Investments Co. increased its position in Select Water Solutions by 100.0% during the 1st quarter. Sei Investments Co. now owns 422,854 shares of the company's stock worth $6,470,000 after purchasing an additional 211,421 shares in the last quarter. Needham Investment Management LLC increased its position in Select Water Solutions by 34.8% during the 4th quarter. Needham Investment Management LLC now owns 775,000 shares of the company's stock worth $8,153,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Select Water Solutions by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company's stock valued at $100,220,000 after purchasing an additional 185,821 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and natural gas industry. Its services support drilling, completions, production and infrastructure operations, with an emphasis on sourcing, transferring, treating, recycling and disposing of water used in energy production.

The company's offerings include water sourcing and transfer, water recycling and treatment, fluid management, pipeline and infrastructure services, and related logistics.

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