Zurn Elkay Water Solutions (NYSE:ZWS) Downgraded by Mizuho

Zurn Elkay Water Solutions (NYSE:ZWSGet Free Report) was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $34.00 target price on the stock. Mizuho’s price objective suggests a potential upside of 2.26% from the stock’s current price.

ZWS has been the subject of a number of other research reports. Stifel Nicolaus lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Tuesday, December 19th. KeyCorp lowered shares of Zurn Elkay Water Solutions from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 13th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.14.

Get Our Latest Research Report on ZWS

Zurn Elkay Water Solutions Price Performance

NYSE ZWS opened at $33.25 on Friday. Zurn Elkay Water Solutions has a 12 month low of $19.29 and a 12 month high of $33.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.90. The firm has a market capitalization of $5.72 billion, a PE ratio of 51.15, a P/E/G ratio of 2.11 and a beta of 1.21. The company’s 50 day simple moving average is $29.50 and its 200 day simple moving average is $28.81.

Zurn Elkay Water Solutions (NYSE:ZWSGet Free Report) last issued its earnings results on Monday, February 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $350.55 million. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. As a group, equities research analysts forecast that Zurn Elkay Water Solutions will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Troutman sold 35,082 shares of Zurn Elkay Water Solutions stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.75, for a total value of $1,043,689.50. Following the transaction, the insider now owns 32,008 shares in the company, valued at approximately $952,238. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of ZWS. Moneta Group Investment Advisors LLC grew its position in Zurn Elkay Water Solutions by 111,056.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,777,778 shares of the company’s stock worth $460,600,000 after purchasing an additional 21,758,186 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Zurn Elkay Water Solutions by 145.1% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after acquiring an additional 4,268,785 shares in the last quarter. BlackRock Inc. boosted its position in shares of Zurn Elkay Water Solutions by 33.7% during the 2nd quarter. BlackRock Inc. now owns 11,869,166 shares of the company’s stock valued at $319,162,000 after acquiring an additional 2,994,006 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Zurn Elkay Water Solutions by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,446,027 shares of the company’s stock valued at $329,428,000 after acquiring an additional 2,085,426 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Zurn Elkay Water Solutions in the first quarter valued at about $31,725,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Company Profile

(Get Free Report)

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, including interceptors, water control and backflow, fire protection, PEX pipings and tubings, valves, fittings, and installation tools under the Zurn and Wilkis brand names.

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Analyst Recommendations for Zurn Elkay Water Solutions (NYSE:ZWS)

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