Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Cut to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from $37.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 13.60% from the stock’s previous close.

A number of other brokerages also recently weighed in on ZWS. BNP Paribas began coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 target price for the company. Mizuho downgraded shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Friday, February 9th. Finally, Oppenheimer boosted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.50.

Zurn Elkay Water Solutions Stock Performance

NYSE ZWS opened at $31.69 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.31 and a quick ratio of 1.77. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 44.63, a P/E/G ratio of 1.79 and a beta of 1.22. The company’s fifty day moving average is $31.95 and its two-hundred day moving average is $30.03. Zurn Elkay Water Solutions has a 52-week low of $20.06 and a 52-week high of $34.58.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts forecast that Zurn Elkay Water Solutions will post 1.15 EPS for the current year.

Insider Activity at Zurn Elkay Water Solutions

In related news, CEO Todd A. Adams sold 129,604 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares in the company, valued at $60,451,863. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the completion of the transaction, the insider now owns 24,505,660 shares in the company, valued at $785,161,346.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd A. Adams sold 129,604 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the completion of the transaction, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 741,506 shares of company stock worth $23,964,936. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZWS. Principal Securities Inc. acquired a new position in Zurn Elkay Water Solutions during the fourth quarter worth $34,000. Benjamin Edwards Inc. bought a new stake in Zurn Elkay Water Solutions during the fourth quarter worth $42,000. IFP Advisors Inc raised its position in Zurn Elkay Water Solutions by 70.9% during the third quarter. IFP Advisors Inc now owns 2,564 shares of the company’s stock worth $72,000 after acquiring an additional 1,064 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Zurn Elkay Water Solutions during the fourth quarter worth $76,000. Finally, Assetmark Inc. raised its position in Zurn Elkay Water Solutions by 32.9% during the fourth quarter. Assetmark Inc. now owns 2,898 shares of the company’s stock worth $85,000 after acquiring an additional 718 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions

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.