Select Water Solutions (NYSE:WTTR) Rating Lowered to Hold at Northland Capmk

Select Water Solutions (NYSE:WTTR) was downgraded by Northland Capmk from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Select Water Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Raymond James Financial restated a “strong-buy” rating and issued a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. Northland Securities downgraded Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Select Water Solutions Price Performance

WTTR stock opened at $9.95 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.64. The business has a 50-day simple moving average of $10.60 and a two-hundred day simple moving average of $9.39. The company has a market capitalization of $1.21 billion, a P/E ratio of 52.34 and a beta of 1.18. Select Water Solutions has a 52-week low of $7.20 and a 52-week high of $15.14.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $322.24 million during the quarter, compared to analyst estimates of $306.39 million. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.Select Water Solutions’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. Research analysts expect that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Insider Transactions at Select Water Solutions

In related news, CEO John Schmitz sold 152,173 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $11.04, for a total value of $1,679,989.92. Following the sale, the chief executive officer owned 39,646 shares in the company, valued at $437,691.84. This represents a 79.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in Select Water Solutions by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 48,603 shares of the company’s stock worth $510,000 after buying an additional 1,822 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Select Water Solutions by 187.0% during the first quarter. Envestnet Asset Management Inc. now owns 88,839 shares of the company’s stock valued at $933,000 after purchasing an additional 57,889 shares in the last quarter. M&T Bank Corp bought a new stake in Select Water Solutions in the 1st quarter worth approximately $244,000. Cerity Partners LLC bought a new stake in shares of Select Water Solutions in the 1st quarter worth about $155,000. Finally, New York State Common Retirement Fund grew its stake in Select Water Solutions by 57.6% in the 1st quarter. New York State Common Retirement Fund now owns 664,868 shares of the company’s stock worth $6,981,000 after acquiring an additional 243,114 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

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.