Stifel Nicolaus Forecasts Strong Price Appreciation for Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock

Key Points

• Stifel Nicolaus raised its target price for Zurn Elkay Water Solutions Corp (NYSE:ZWS) from $50.00 to $53.00, indicating a potential upside of 13.06% from the current price and maintaining a "buy" rating.
• In recent trading, ZWS shares have seen fluctuations, reaching a high of $47.71 and a low of $27.74 over the past year, with a current market cap of $7.85 billion.
• Insider trading activity revealed significant stock sales, with VP Sudhanshu Chhabra selling 108,930 shares and Director Timothy J. Jahnke selling 20,000 shares, resulting in a notable decrease in their ownership stakes.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its target price upped by research analysts at Stifel Nicolaus from $50.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 13.06% from the company's current price.

Separately, Mizuho set a $36.00 price objective on Zurn Elkay Water Solutions Cor in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of "Hold" and an average target price of $38.50.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS traded down $0.39 during trading on Friday, reaching $46.88. The stock had a trading volume of 248,194 shares, compared to its average volume of 995,134. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $47.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.72 and a current ratio of 2.71. The stock has a market cap of $7.85 billion, a PE ratio of 46.34, a P/E/G ratio of 2.46 and a beta of 1.07. The firm's 50 day moving average price is $42.47 and its two-hundred day moving average price is $37.10.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million during the quarter, compared to the consensus estimate of $424.55 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The firm's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, research analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.61, for a total value of $4,750,437.30. Following the completion of the transaction, the vice president owned 94,330 shares of the company's stock, valued at approximately $4,113,731.30. This represents a 53.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy J. Jahnke sold 20,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the transaction, the director directly owned 180,000 shares of the company's stock, valued at approximately $7,871,400. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 148,930 shares of company stock valued at $6,501,529. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in shares of Zurn Elkay Water Solutions Cor by 249.8% in the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company's stock worth $26,000 after purchasing an additional 502 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Zurn Elkay Water Solutions Cor in the second quarter worth $26,000. HM Payson & Co. acquired a new stake in shares of Zurn Elkay Water Solutions Cor in the first quarter valued at $37,000. Federated Hermes Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 3,687.2% in the first quarter. Federated Hermes Inc. now owns 1,780 shares of the company's stock valued at $59,000 after buying an additional 1,733 shares during the period. Finally, CWM LLC lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company's stock valued at $66,000 after buying an additional 454 shares during the period. Institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Cor Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.