Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Zurn Elkay Water Solutions’ price target from $58 to $54 while maintaining a “sector perform” rating, implying roughly 15% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57. Recent quarterly results also exceeded expectations, with EPS of $0.50 versus $0.47 expected and revenue up 10.5% year over year.
• ZWS shares closed at $46.78, near the lower end of their 12-month range, while institutional investors own 83.33% of the stock. A company director also purchased nearly $100,000 worth of shares.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its target price lowered by research analysts at Royal Bank Of Canada from $58.00 to $54.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 15.42% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Stifel Nicolaus boosted their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Robert W. Baird set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, July 30th. Barclays increased their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.00.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE:ZWS traded down $0.41 on Wednesday, hitting $46.78. The company's stock had a trading volume of 73,207 shares, compared to its average volume of 994,568. Zurn Elkay Water Solutions Cor has a 12 month low of $43.06 and a 12 month high of $55.00. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The stock's 50-day moving average is $47.99 and its two-hundred day moving average is $48.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $483.04 million. During the same period last year, the company earned $0.42 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.83 EPS for the current year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler acquired 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company's stock, valued at approximately $1,859,355.20. This trade represents a 5.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company's stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP raised its position in shares of Zurn Elkay Water Solutions Cor by 114.0% during the second quarter. Engineers Gate Manager LP now owns 56,915 shares of the company's stock worth $2,876,000 after purchasing an additional 30,320 shares during the period. Amundi boosted its position in shares of Zurn Elkay Water Solutions Cor by 15.7% in the 2nd quarter. Amundi now owns 1,045,504 shares of the company's stock valued at $52,829,000 after purchasing an additional 141,916 shares during the period. Deutsche Bank AG acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $8,205,000. SG Americas Securities LLC increased its stake in Zurn Elkay Water Solutions Cor by 53.5% in the 1st quarter. SG Americas Securities LLC now owns 45,125 shares of the company's stock worth $2,023,000 after purchasing an additional 15,735 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in Zurn Elkay Water Solutions Cor by 15.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 114,668 shares of the company's stock worth $5,142,000 after purchasing an additional 14,958 shares in the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.

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