Citigroup Forecasts Strong Price Appreciation for Select Water Solutions (NYSE:WTTR) Stock

Select Water Solutions (NYSE:WTTR) had its price target upped by stock analysts at Citigroup from $14.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 32.65% from the stock’s previous close.

Select Water Solutions Trading Up 0.1 %

WTTR opened at $13.57 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 23.00 and a beta of 1.76. Select Water Solutions has a 12 month low of $6.99 and a 12 month high of $15.14. The stock has a fifty day moving average price of $13.70 and a 200-day moving average price of $11.94.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same quarter in the previous year, the business posted $0.14 EPS. Select Water Solutions’s revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that Select Water Solutions will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kings Path Partners LLC purchased a new position in Select Water Solutions during the fourth quarter valued at approximately $466,000. JPMorgan Chase & Co. grew its stake in shares of Select Water Solutions by 32.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,964 shares of the company’s stock worth $14,981,000 after purchasing an additional 329,353 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Select Water Solutions during the 3rd quarter valued at approximately $483,000. SkyView Investment Advisors LLC lifted its stake in shares of Select Water Solutions by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 61,105 shares of the company’s stock valued at $680,000 after purchasing an additional 1,073 shares during the period. Finally, Barclays PLC boosted its holdings in Select Water Solutions by 319.3% during the third quarter. Barclays PLC now owns 140,648 shares of the company’s stock worth $1,565,000 after buying an additional 107,107 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Company Profile

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.