Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Dropped to Hold by Zacks Research

Zurn Elkay Water Solutions Cor (NYSE:ZWS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada cut their target price on Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 14th. Barclays raised their target price on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Robert W. Baird set a $58.00 price target on Zurn Elkay Water Solutions Cor in a research report on Thursday, July 30th. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Zurn Elkay Water Solutions Cor Trading Up 1.4%

Shares of Zurn Elkay Water Solutions Cor stock opened at $48.37 on Tuesday. The firm’s 50 day simple moving average is $47.48 and its two-hundred day simple moving average is $48.48. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.74 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 12-month low of $43.06 and a 12-month high of $55.00. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The business had revenue of $491.00 million during the quarter, compared to the consensus estimate of $483.04 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts predict that Zurn Elkay Water Solutions Cor will post 1.83 EPS for the current year.

Insider Activity at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler bought 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. This represents a 5.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kilter Group LLC acquired a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter worth approximately $26,000. Assetmark Inc. boosted its position in Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $49,000. 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 Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.