Wall Street Zen Upgrades Pure Cycle (NASDAQ:PCYO) to Hold

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 Price Performance

Shares of PCYO traded up $0.07 during trading hours on Friday, reaching $11.50. The stock had a trading volume of 39,524 shares, compared to its average volume of 35,381. Pure Cycle has a 12 month low of $9.65 and a 12 month high of $14.63. The stock has a market capitalization of $276.85 million, a PE ratio of 20.91 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. The company's 50-day moving average is $10.29 and its two-hundred day moving average is $10.42.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last announced its quarterly 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 during the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCYO. Northern Trust Corp raised its position in Pure Cycle by 7.9% during the 4th quarter. Northern Trust Corp now owns 192,394 shares of the utilities provider's stock worth $2,440,000 after purchasing an additional 14,118 shares during the last quarter. BNP Paribas Financial Markets raised its position in Pure Cycle by 87.0% during the 4th quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock worth $112,000 after purchasing an additional 4,110 shares during the last quarter. Bank of America Corp DE raised its position in Pure Cycle by 42.4% during the 4th quarter. Bank of America Corp DE now owns 25,511 shares of the utilities provider's stock worth $323,000 after purchasing an additional 7,593 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Pure Cycle by 87.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 27,218 shares of the utilities provider's stock worth $345,000 after purchasing an additional 12,670 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Pure Cycle during the 4th quarter worth $126,000. 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.