Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Raised to $37.00

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) had its target price lifted by equities researchers at Oppenheimer from $36.00 to $37.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price target indicates a potential upside of 15.99% from the company's current price.

Other analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Tuesday, December 19th. Mizuho lowered shares of Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research note on Friday, February 9th. Finally, BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $32.75.

Zurn Elkay Water Solutions Stock Down 0.9 %

NYSE ZWS traded down $0.30 during trading hours on Friday, reaching $31.90. 813,581 shares of the company's stock traded hands, compared to its average volume of 963,480. Zurn Elkay Water Solutions has a 52-week low of $20.06 and a 52-week high of $34.58. The firm has a market cap of $5.52 billion, a PE ratio of 49.15, a PEG ratio of 1.77 and a beta of 1.22. The firm has a 50-day simple moving average of $31.95 and a 200 day simple moving average of $29.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The company had revenue of $356.80 million during the quarter, compared to analysts' expectations of $350.55 million. During the same period last year, the company posted $0.16 EPS. Zurn Elkay Water Solutions's revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Zurn Elkay Water Solutions will post 1.15 EPS for the current fiscal year.

Insider Transactions at Zurn Elkay Water Solutions

In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now owns 24,998,760 shares of the company's stock, valued at $804,460,096.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now owns 24,998,760 shares of the company's stock, valued at $804,460,096.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Troutman sold 897 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.70, for a total transaction of $27,537.90. Following the completion of the transaction, the insider now directly owns 43,026 shares in the company, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. Insiders sold 343,243 shares of company stock worth $11,217,501 over the last three months. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several large investors have recently added to or reduced their stakes in ZWS. Rockefeller Capital Management L.P. lifted its holdings in Zurn Elkay Water Solutions by 1,087.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,354 shares of the company's stock valued at $28,000 after purchasing an additional 1,240 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth $34,000. IFP Advisors Inc lifted its holdings in shares of Zurn Elkay Water Solutions by 50.0% in the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock worth $40,000 after buying an additional 500 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth $42,000. Finally, KBC Group NV purchased a new position in shares of Zurn Elkay Water Solutions in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

About Zurn Elkay Water Solutions

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.