Pure Cycle (NASDAQ:PCYO) Raised to "Hold" at Wall Street Zen

Key Points

• Pure Cycle was upgraded from a "sell" to a "hold" rating by Wall Street Zen, providing a more favorable outlook for the stock.
• The company's stock opened at $11.02, with a 12-month trading range between $9.65 and $14.63.
• Institutional investors own 51.39% of Pure Cycle's stock, with notable increases in holdings by firms like Lazard Asset Management and BNP Paribas Financial Markets.

Pure Cycle (NASDAQ:PCYO - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Pure Cycle Stock Performance

Shares of NASDAQ PCYO traded up $0.10 during midday trading on Friday, hitting $11.12. 26,820 shares of the stock traded hands, compared to its average volume of 35,171. Pure Cycle has a one year low of $9.65 and a one year high of $14.63. The firm has a 50-day moving average of $10.24 and a two-hundred day moving average of $10.41. The firm has a market capitalization of $267.66 million, a P/E ratio of 20.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.40 and a current ratio of 3.52.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last announced its earnings results on Wednesday, July 9th. The utilities provider reported $0.09 EPS for the quarter. Pure Cycle had a return on equity of 10.19% and a net margin of 49.58%.The company had revenue of $5.14 million for the quarter.

Hedge Funds Weigh In On Pure Cycle

Institutional investors have recently bought and sold shares of the stock. Beacon Investment Advisory Services Inc. increased its stake in Pure Cycle by 7.6% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 14,166 shares of the utilities provider's stock worth $152,000 after buying an additional 1,000 shares in the last quarter. First Manhattan CO. LLC. increased its stake in Pure Cycle by 2.7% in the 1st quarter. First Manhattan CO. LLC. now owns 60,225 shares of the utilities provider's stock worth $631,000 after buying an additional 1,600 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Pure Cycle by 5.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 67,219 shares of the utilities provider's stock worth $704,000 after buying an additional 3,333 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Pure Cycle by 87.0% in the 4th quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock worth $112,000 after buying an additional 4,110 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Pure Cycle by 11,145.1% in the 2nd quarter. Lazard Asset Management LLC now owns 5,735 shares of the utilities provider's stock worth $61,000 after buying an additional 5,684 shares in the last quarter. 51.39% of the stock is owned by institutional investors.

About Pure Cycle

Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.