Weiss Ratings Reiterates "Buy (B-)" Rating for Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Key Points

• Weiss Ratings has reiterated a "Buy (B-)" rating for Zurn Elkay Water Solutions Corp (NYSE:ZWS), indicating strong confidence in the company's stock performance.
• Recent brokerage reports have raised Zurn's price target, with Stifel Nicolaus increasing it from $50 to $53 and Oppenheimer from $48 to $52, supporting a general consensus of buy ratings.
• The company reported earnings per share of $0.42 for the last quarter, surpassing analysts' expectations and showing a 7.9% increase in revenue year-over-year.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report)'s stock had its "buy (b-)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on ZWS. Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, September 12th. Oppenheimer boosted their price objective on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of "Hold" and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock traded up $0.38 during midday trading on Wednesday, hitting $47.60. The company had a trading volume of 160,232 shares, compared to its average volume of 994,746. Zurn Elkay Water Solutions Cor has a 1-year low of $27.74 and a 1-year high of $48.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72. The business's 50 day simple moving average is $45.86 and its two-hundred day simple moving average is $38.73. The stock has a market cap of $7.98 billion, a PE ratio of 47.15, a P/E/G ratio of 2.53 and a beta of 1.09.

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

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the business's stock in a transaction that occurred 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 directly owned 94,330 shares in the company, valued at approximately $4,113,731.30. The trade was a 53.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.73, for a total value of $874,600.00. Following the completion of the transaction, the director owned 180,000 shares of the company's stock, valued at $7,871,400. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,930 shares of company stock valued at $7,452,507 over the last quarter. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Zurn Elkay Water Solutions Cor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,860,934 shares of the company's stock worth $523,094,000 after acquiring an additional 371,635 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Zurn Elkay Water Solutions Cor by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,605,639 shares of the company's stock worth $448,714,000 after acquiring an additional 42,277 shares during the last quarter. Invesco Ltd. boosted its position in Zurn Elkay Water Solutions Cor by 1.9% during the 1st quarter. Invesco Ltd. now owns 5,991,234 shares of the company's stock worth $197,591,000 after acquiring an additional 110,932 shares during the last quarter. State Street Corp boosted its position in Zurn Elkay Water Solutions Cor by 0.6% during the 2nd quarter. State Street Corp now owns 5,381,619 shares of the company's stock worth $196,806,000 after acquiring an additional 30,483 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in Zurn Elkay Water Solutions Cor by 22.8% during the 2nd quarter. Impax Asset Management Group plc now owns 4,933,224 shares of the company's stock worth $180,408,000 after acquiring an additional 916,850 shares during the last quarter. Institutional investors and hedge funds 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.

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