Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given New $52.00 Price Target at Oppenheimer

Key Points

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Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) had its price target upped by research analysts at Oppenheimer from $48.00 to $52.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 8.51% from the stock's current price.

Separately, Stifel Nicolaus lifted their price target on shares of 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. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.50.

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS traded up $0.64 on Wednesday, hitting $47.92. The company's stock had a trading volume of 163,975 shares, compared to its average volume of 998,111. The stock has a fifty day moving average of $43.05 and a two-hundred day moving average of $37.36. The company has a current ratio of 2.71, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $8.03 billion, a P/E ratio of 47.53, a price-to-earnings-growth ratio of 2.54 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $48.09.

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 for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $444.50 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Research analysts predict that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 owned 180,000 shares in the company, valued at $7,871,400. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 166,774 shares of company stock worth $7,350,011 in the last 90 days. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZWS. First Horizon Advisors Inc. boosted its holdings in shares of Zurn Elkay Water Solutions Cor by 249.8% during 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 during the period. Whittier Trust Co. purchased a new stake in Zurn Elkay Water Solutions Cor in the second quarter worth about $26,000. HM Payson & Co. purchased a new stake in Zurn Elkay Water Solutions Cor in the first quarter worth about $37,000. Federated Hermes Inc. lifted its holdings in 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 worth $59,000 after buying an additional 1,733 shares during the period. Finally, CWM LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 33.8% in the second quarter. CWM LLC now owns 1,799 shares of the company's stock worth $66,000 after buying an additional 454 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

About Zurn Elkay Water Solutions Cor

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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