Zurn Elkay Water Solutions Cor (NYSE:ZWS) Downgraded by Zacks Research to Hold

Key Points

• Zurn Elkay Water Solutions Cor was downgraded by Zacks Research from a "strong-buy" to a "hold" rating, though other analysts like Weiss Ratings and Stifel Nicolaus maintain positive outlooks with "buy" ratings.
• The stock has seen significant fluctuations, with a current market capitalization of $7.78 billion, a 12-month price range between $27.74 and $48.42, and is currently trading around $46.44.
• Recent insider trading activity includes a VP selling over 108,000 shares and various institutional investors adjusting their positions, indicating ongoing financial maneuvers within the company.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also issued reports on ZWS. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, Oppenheimer lifted their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Up 1.2%

Zurn Elkay Water Solutions Cor stock opened at $46.44 on Monday. The stock has a market capitalization of $7.78 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. Zurn Elkay Water Solutions Cor has a 12 month low of $27.74 and a 12 month high of $48.42. The business has a 50 day simple moving average of $46.10 and a 200-day simple moving average of $39.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $444.50 million for the quarter, compared to analyst estimates 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 business's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, VP Sudhanshu Chhabra sold 108,930 shares of the business's 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 sale, the vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy J. Jahnke sold 2,156 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $47.54, for a total value of $102,496.24. Following the completion of the sale, the director owned 308,964 shares in the company, valued at $14,688,148.56. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,930 shares of company stock worth $7,452,507 in the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Zurn Elkay Water Solutions Cor during the 1st quarter worth about $265,000. Sequoia Financial Advisors LLC purchased a new stake in Zurn Elkay Water Solutions Cor during the 1st quarter valued at approximately $2,642,000. Perpetual Ltd raised its stake in Zurn Elkay Water Solutions Cor by 23.4% during the 1st quarter. Perpetual Ltd now owns 264,396 shares of the company's stock valued at $8,720,000 after acquiring an additional 50,207 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Zurn Elkay Water Solutions Cor by 2.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 77,158 shares of the company's stock valued at $2,545,000 after acquiring an additional 2,126 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its stake in Zurn Elkay Water Solutions Cor by 11.3% during the 1st quarter. DAVENPORT & Co LLC now owns 9,523 shares of the company's stock valued at $314,000 after acquiring an additional 964 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

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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