Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its target price hoisted by equities researchers at Stifel Nicolaus from $53.00 to $59.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.40% from the company’s current price.

A number of other research firms have also recently commented on ZWS. The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Zacks Research lowered shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday. Finally, Robert W. Baird reduced their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Trading Down 0.5%

Shares of ZWS stock opened at $52.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.07 and a current ratio of 3.24. The stock has a fifty day simple moving average of $47.78 and a two-hundred day simple moving average of $47.46. The firm has a market capitalization of $8.76 billion, a PE ratio of 42.33, a PEG ratio of 2.12 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 52-week low of $33.45 and a 52-week high of $53.70.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million for the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts predict that Zurn Elkay Water Solutions Cor will post 1.72 EPS for the current fiscal year.

Insider Activity

In related news, VP Sudhanshu Chhabra sold 2,021 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $50.85, for a total transaction of $102,767.85. Following the sale, the vice president owned 69,556 shares of the company’s stock, valued at $3,536,922.60. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David J. Pauli sold 812 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $51.61, for a total transaction of $41,907.32. Following the completion of the transaction, the chief financial officer directly owned 65,995 shares of the company’s stock, valued at $3,406,001.95. The trade was a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 599,259 shares of company stock valued at $31,225,361. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB purchased a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter valued at $7,356,000. JPMorgan Chase & Co. boosted its stake in Zurn Elkay Water Solutions Cor by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock worth $68,555,000 after buying an additional 113,425 shares during the period. Fisher Asset Management LLC increased its position in Zurn Elkay Water Solutions Cor by 27.9% during the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after acquiring an additional 223,168 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $1,205,000. Finally, Alliancebernstein L.P. raised its stake in shares of Zurn Elkay Water Solutions Cor by 1,714.8% in the third quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares during the period. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.