Consolidated Water (NASDAQ:CWCO) Upgraded to Buy at Wall Street Zen

Consolidated Water (NASDAQ:CWCO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

A number of other analysts have also recently commented on CWCO. Roth Capital upped their price objective on Consolidated Water from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings raised Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Consolidated Water has a consensus rating of “Buy” and an average price target of $40.00.

Consolidated Water Stock Performance

CWCO stock opened at $35.76 on Friday. The firm has a 50 day moving average price of $34.63 and a 200-day moving average price of $31.02. Consolidated Water has a 52-week low of $22.69 and a 52-week high of $38.36. The firm has a market capitalization of $569.69 million, a price-to-earnings ratio of 38.04 and a beta of 0.51.

Consolidated Water (NASDAQ:CWCO) last issued its earnings results on Monday, November 10th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.10. The business had revenue of $35.12 million during the quarter, compared to analysts’ expectations of $32.90 million. Consolidated Water had a net margin of 12.24% and a return on equity of 7.77%. As a group, sell-side analysts forecast that Consolidated Water will post 1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Raymond Whittaker sold 4,755 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $33.35, for a total transaction of $158,579.25. Following the sale, the director directly owned 1,000 shares in the company, valued at approximately $33,350. This represents a 82.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.25% of the company’s stock.

Institutional Trading of Consolidated Water

A number of large investors have recently made changes to their positions in the stock. CWM LLC grew its position in shares of Consolidated Water by 228.6% during the 1st quarter. CWM LLC now owns 1,860 shares of the utilities provider’s stock worth $46,000 after buying an additional 1,294 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Consolidated Water during the first quarter worth $273,000. Journey Strategic Wealth LLC boosted its position in Consolidated Water by 7.0% during the 1st quarter. Journey Strategic Wealth LLC now owns 9,776 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 638 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Consolidated Water during the 1st quarter valued at $244,000. Finally, Heartland Advisors Inc. increased its holdings in shares of Consolidated Water by 146.8% in the 1st quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider’s stock valued at $6,615,000 after acquiring an additional 160,657 shares during the period. 55.16% of the stock is owned by hedge funds and other institutional investors.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.