Zurn Elkay Water Solutions (NYSE:ZWS) Price Target Cut to $28.00 by Analysts at KeyCorp

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) had its price target decreased by research analysts at KeyCorp from $32.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 36.99% from the company’s current price.

A number of other equities research analysts also recently issued reports on ZWS. Mizuho lowered their price target on Zurn Elkay Water Solutions from $31.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Stifel Nicolaus lowered their price target on Zurn Elkay Water Solutions from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Robert W. Baird downgraded Zurn Elkay Water Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $26.00 in a research report on Tuesday, December 20th. Finally, Oppenheimer decreased their target price on Zurn Elkay Water Solutions from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Zurn Elkay Water Solutions Price Performance

Shares of NYSE:ZWS opened at $20.44 on Wednesday. The company has a market cap of $3.63 billion, a P/E ratio of -185.82, a P/E/G ratio of 1.41 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 2.44 and a debt-to-equity ratio of 0.33. Zurn Elkay Water Solutions has a 52 week low of $20.30 and a 52 week high of $36.82. The business has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $25.63.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Zurn Elkay Water Solutions had a positive return on equity of 26.79% and a negative net margin of 1.61%. The firm had revenue of $417.70 million during the quarter, compared to the consensus estimate of $420.47 million. Equities research analysts forecast that Zurn Elkay Water Solutions will post 0.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Zurn Elkay Water Solutions by 18.4% in the third quarter. Vanguard Group Inc. now owns 13,446,027 shares of the company’s stock worth $329,428,000 after acquiring an additional 2,085,426 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Zurn Elkay Water Solutions by 8.3% in the third quarter. Impax Asset Management Group plc now owns 10,932,007 shares of the company’s stock worth $267,247,000 after acquiring an additional 841,395 shares in the last quarter. BlackRock Inc. raised its stake in Zurn Elkay Water Solutions by 4.5% during the third quarter. BlackRock Inc. now owns 9,530,904 shares of the company’s stock valued at $233,507,000 after buying an additional 413,728 shares in the last quarter. Macquarie Group Ltd. raised its stake in Zurn Elkay Water Solutions by 16.9% during the third quarter. Macquarie Group Ltd. now owns 4,828,470 shares of the company’s stock valued at $118,327,000 after buying an additional 699,390 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Zurn Elkay Water Solutions by 2.1% during the third quarter. Brown Advisory Inc. now owns 3,180,976 shares of the company’s stock valued at $77,934,000 after buying an additional 66,039 shares in the last quarter. Institutional investors and hedge funds own 74.65% of the company’s stock.

About Zurn Elkay Water Solutions

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Zurn Elkay Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name.

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