Jefferies Financial Group Begins Coverage on Zurn Elkay Water Solutions Cor (NYSE:ZWS)

Equities researchers at Jefferies Financial Group assumed coverage on shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) in a report issued on Friday, Marketbeat reports. The firm set a “buy” rating and a $58.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 22.95% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Oppenheimer set a $53.00 price objective on Zurn Elkay Water Solutions Cor and gave the stock an “outperform” rating in a research note on Friday, October 31st. Zacks Research raised shares of Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Monday, December 8th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Stifel Nicolaus lifted their price objective on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Zurn Elkay Water Solutions Cor Price Performance

Shares of NYSE:ZWS opened at $47.18 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 2.78. The business’s fifty day moving average price is $46.84 and its two-hundred day moving average price is $43.32. The stock has a market cap of $7.89 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08. Zurn Elkay Water Solutions Cor has a one year low of $27.74 and a one year high of $50.03.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $455.40 million for the quarter, compared to analyst estimates of $442.62 million. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. Zurn Elkay Water Solutions Cor’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. On average, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 EPS for the current fiscal year.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 10,539 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the transaction, the director owned 169,461 shares in the company, valued at $8,051,092.11. This trade represents a 5.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 22,256 shares of company stock valued at $1,062,602 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several institutional investors have recently modified their holdings of ZWS. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor during the third quarter worth about $25,000. Whittier Trust Co. acquired a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at $26,000. First Horizon Advisors Inc. raised its stake in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor 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.