Xylem’s (XYL) “Hold” Rating Reaffirmed at Canaccord Genuity
Xylem Inc. (NYSE:XYL)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued on Friday. They currently have a $56.00 target price on the industrial products company’s stock. Canaccord Genuity’s price objective indicates a potential downside of 13.26% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Xylem from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub raised shares of Xylem from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. set a $58.00 target price on shares of Xylem and gave the company a “buy” rating in a research note on Tuesday, June 20th. Cowen and Company reissued a “buy” rating and issued a $70.00 target price on shares of Xylem in a research note on Thursday, September 21st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $60.00 target price on shares of Xylem in a research note on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.92.
Xylem (NYSE XYL) opened at 64.56 on Friday. The firm has a market capitalization of $11.59 billion, a P/E ratio of 41.68 and a beta of 1.17. Xylem has a 52 week low of $45.60 and a 52 week high of $64.80. The firm has a 50-day moving average price of $62.51 and a 200-day moving average price of $55.79.
Xylem (NYSE:XYL) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities analysts forecast that Xylem will post $2.37 EPS for the current year.
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In other news, insider Kenneth Napolitano sold 9,052 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total transaction of $544,568.32. Following the sale, the insider now directly owns 35,303 shares of the company’s stock, valued at $2,123,828.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harfst & Associates Inc. grew its stake in shares of Xylem by 26.1% during the second quarter. Harfst & Associates Inc. now owns 2,433 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 503 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Xylem by 160.3% during the second quarter. CENTRAL TRUST Co now owns 2,655 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,635 shares during the last quarter. FNY Partners Fund LP bought a new stake in shares of Xylem during the first quarter valued at approximately $151,000. Tower Research Capital LLC TRC bought a new stake in shares of Xylem during the second quarter valued at approximately $168,000. Finally, Federated Investors Inc. PA grew its stake in shares of Xylem by 5.8% during the second quarter. Federated Investors Inc. PA now owns 3,286 shares of the industrial products company’s stock valued at $182,000 after purchasing an additional 181 shares during the last quarter. 86.43% of the stock is currently owned by institutional investors and hedge funds.
Xylem Company Profile
Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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