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

Key Points

• Royal Bank of Canada cut Zurn Elkay Water Solutions’ price target from $54 to $49 while maintaining a “sector perform” rating, implying roughly 9.7% upside from the $44.66 share price. Analysts’ consensus remains “Moderate Buy,” with an average target of $54.67.
• ZWS shares rose 2.7% to $44.66, despite several mixed analyst actions, including Barclays lowering its target to $56 and Zacks downgrading the stock to “hold.”
• The company exceeded quarterly expectations, reporting adjusted earnings of $0.52 per share versus the $0.50 estimate and revenue of $495.1 million, up 8.7% year over year.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its price target dropped by stock analysts at Royal Bank Of Canada from $54.00 to $49.00 in a report released on Thursday, Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 9.71% from the company's current price.

ZWS has been the subject of a number of other research reports. Robert W. Baird set a $50.00 target price on Zurn Elkay Water Solutions Cor in a research report on Thursday. Barclays dropped their price target on shares of Zurn Elkay Water Solutions Cor from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday. Zacks Research cut shares of Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 20th. Stifel Nicolaus upped their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $58.00 target price (down from $60.00) on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Zurn Elkay Water Solutions Cor has a consensus rating of "Moderate Buy" and a consensus target price of $54.67.

Zurn Elkay Water Solutions Cor Stock Up 2.7%

NYSE:ZWS traded up $1.16 during trading hours on Thursday, reaching $44.66. The company's stock had a trading volume of 2,393,438 shares, compared to its average volume of 1,010,781. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a one year low of $42.89 and a one year high of $55.00. The business's 50-day moving average is $47.28 and its 200-day moving average is $48.28.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. 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 $495.10 million for the quarter, compared to analyst estimates of $493.36 million. During the same period last year, the company earned $0.43 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.83 EPS for the current year.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler acquired 2,016 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the acquisition, the director owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently made changes to their positions in ZWS. Kilter Group LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth about $27,000. Root Financial Partners LLC bought a new stake in Zurn Elkay Water Solutions Cor during the third quarter worth about $26,000. Assetmark Inc. increased its holdings in shares of Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after buying an additional 292 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth approximately $49,000. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.

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