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

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective raised by research analysts at Stifel Nicolaus from $38.00 to $39.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 0.62% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Mizuho raised their price objective on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer increased their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Zurn Elkay Water Solutions Stock Down 0.9 %

ZWS stock opened at $38.76 on Friday. The firm’s 50-day moving average is $38.58 and its two-hundred day moving average is $35.45. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15. Zurn Elkay Water Solutions has a 52 week low of $28.25 and a 52 week high of $41.15. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, October 29th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Zurn Elkay Water Solutions had a return on equity of 13.30% and a net margin of 8.87%. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $406.15 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, CEO Todd A. Adams sold 120,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $39.83, for a total value of $4,779,600.00. Following the completion of the sale, the chief executive officer now owns 2,242,867 shares in the company, valued at $89,333,392.61. This represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $39.15, for a total transaction of $122,617.80. Following the transaction, the vice president now owns 35,422 shares in the company, valued at approximately $1,386,771.30. This represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,202 shares of company stock valued at $5,061,558. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions

A number of institutional investors have recently bought and sold shares of the company. Quarry LP raised its stake in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC increased its holdings in Zurn Elkay Water Solutions by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 544 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Zurn Elkay Water Solutions during the third quarter valued at approximately $36,000. Tsfg LLC acquired a new stake in Zurn Elkay Water Solutions in the fourth quarter valued at approximately $56,000. Finally, KBC Group NV grew its position in Zurn Elkay Water Solutions by 20.9% in the third quarter. KBC Group NV now owns 3,978 shares of the company’s stock worth $143,000 after acquiring an additional 688 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions 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.