American Water Works (AWK) Stock Rating Lowered by Bank of America
American Water Works (NYSE:AWK) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Several other research firms also recently weighed in on AWK. Wells Fargo & Co set a $89.00 price target on American Water Works and gave the company a “hold” rating in a research note on Thursday, October 19th. Guggenheim downgraded American Water Works from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded American Water Works from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Argus boosted their price target on American Water Works from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, December 29th. Finally, Robert W. Baird boosted their price target on American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $90.51.
Shares of American Water Works (NYSE AWK) opened at $85.70 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.49. The firm has a market capitalization of $15,290.00, a PE ratio of 29.05, a price-to-earnings-growth ratio of 3.55 and a beta of 0.27. American Water Works has a one year low of $69.96 and a one year high of $92.37.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. The business had revenue of $936.00 million for the quarter, compared to the consensus estimate of $992.58 million. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. equities research analysts forecast that American Water Works will post 3.01 earnings per share for the current year.
In other news, COO Walter Lynch sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. Following the sale, the chief operating officer now owns 97,667 shares in the company, valued at $8,785,146.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael A. Sgro sold 841 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $90.03, for a total value of $75,715.23. The disclosure for this sale can be found here. Insiders sold 6,856 shares of company stock worth $616,700 in the last 90 days. Company insiders own 0.34% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AWK. Pinebridge Investments L.P. purchased a new stake in shares of American Water Works in the second quarter worth about $118,000. Aviance Capital Management LLC purchased a new position in American Water Works during the second quarter worth approximately $147,000. Northwestern Mutual Wealth Management Co. boosted its position in American Water Works by 8.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 197 shares in the last quarter. Evercore Wealth Management LLC boosted its position in American Water Works by 8.2% during the second quarter. Evercore Wealth Management LLC now owns 2,500 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 189 shares in the last quarter. Finally, WFG Advisors LP boosted its position in American Water Works by 11.5% during the second quarter. WFG Advisors LP now owns 2,571 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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