Select Water Solutions (NYSE:WTTR) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Select Water Solutions (NYSE:WTTR - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The brokerage set an "overweight" rating and a $15.00 price target on the stock. Piper Sandler's target price would indicate a potential upside of 60.86% from the stock's previous close.

A number of other equities research analysts have also weighed in on WTTR. Raymond James Financial dropped their price target on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 9th. Citigroup dropped their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $14.88.

Select Water Solutions Trading Up 0.5%

Shares of NYSE:WTTR traded up $0.05 on Tuesday, hitting $9.33. 1,110,689 shares of the company's stock were exchanged, compared to its average volume of 1,103,271. Select Water Solutions has a 12 month low of $7.20 and a 12 month high of $15.14. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 26.51 and a beta of 1.20. The business's 50 day simple moving average is $8.71 and its two-hundred day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The business had revenue of $374.38 million during the quarter, compared to the consensus estimate of $360.78 million. During the same period last year, the company earned $0.04 earnings per share. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Institutional Trading of Select Water Solutions

Several large investors have recently made changes to their positions in WTTR. First Trust Advisors LP lifted its holdings in Select Water Solutions by 21.9% in the fourth quarter. First Trust Advisors LP now owns 6,828,596 shares of the company's stock valued at $90,411,000 after acquiring an additional 1,226,061 shares during the period. Vanguard Group Inc. lifted its holdings in Select Water Solutions by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock valued at $66,769,000 after acquiring an additional 488,443 shares during the period. Wellington Management Group LLP lifted its holdings in Select Water Solutions by 7.8% in the first quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company's stock valued at $42,738,000 after acquiring an additional 293,784 shares during the period. Victory Capital Management Inc. raised its stake in shares of Select Water Solutions by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock worth $41,513,000 after buying an additional 229,736 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Select Water Solutions by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock worth $36,942,000 after buying an additional 343,581 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.