Deutsche Bank Aktiengesellschaft Lowers Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective reduced by analysts at Deutsche Bank Aktiengesellschaft from $37.00 to $36.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 13.60% from the stock’s previous close.

A number of other research firms have also recently weighed in on ZWS. BNP Paribas began coverage on Zurn Elkay Water Solutions in a report on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price target for the company. Mizuho lowered Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Finally, Oppenheimer increased their price objective on Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Zurn Elkay Water Solutions Trading Down 0.6 %

ZWS opened at $31.69 on Thursday. Zurn Elkay Water Solutions has a 12 month low of $20.06 and a 12 month high of $34.58. The stock has a fifty day moving average price of $31.95 and a 200-day moving average price of $30.03. The company has a current ratio of 3.31, a quick ratio of 1.77 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 1.79 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last announced its earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $374.00 million for the quarter, compared to the consensus estimate of $369.43 million. Zurn Elkay Water Solutions had a return on equity of 11.85% and a net margin of 8.11%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the transaction, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the sale, the insider now directly owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd A. Adams sold 129,604 shares of Zurn Elkay Water Solutions stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares of the company’s stock, valued at $60,451,863. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 741,506 shares of company stock valued at $23,964,936. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZWS. Kayne Anderson Rudnick Investment Management LLC boosted its position in 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 worth $202,037,000 after purchasing an additional 4,268,785 shares during the period. Wells Fargo & Company MN boosted its position in Zurn Elkay Water Solutions by 2,110.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after buying an additional 2,206,508 shares during the last quarter. Norges Bank purchased a new stake in shares of Zurn Elkay Water Solutions during the fourth quarter worth about $39,532,000. Raymond James & Associates increased its position in shares of Zurn Elkay Water Solutions by 1,622.8% during the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock worth $36,592,000 after acquiring an additional 1,171,985 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock worth $14,889,000 after acquiring an additional 491,093 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions 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.