Zurn Elkay Water Solutions Cor (NYSE:ZWS) Rating Increased to Strong-Buy at Zacks Research

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

A number of other analysts have also recently commented on ZWS. Mizuho set a $49.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Oppenheimer set a $53.00 price objective on shares of Zurn Elkay Water Solutions Cor and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, October 30th. Finally, Stifel Nicolaus increased their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.83.

Zurn Elkay Water Solutions Cor Stock Performance

ZWS stock opened at $47.46 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 1.72. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $50.03. The company has a market cap of $7.94 billion, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The stock’s fifty day moving average price is $46.81 and its 200-day moving average price is $41.61.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last posted its earnings results on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $455.40 million for the quarter, compared to the consensus estimate of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 16.26% and a net margin of 11.59%.Zurn Elkay Water Solutions Cor’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other news, Director Timothy J. Jahnke sold 7,461 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $47.50, for a total value of $354,397.50. Following the completion of the sale, the director owned 162,000 shares in the company, valued at approximately $7,695,000. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 40,100 shares of company stock valued at $1,911,084 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Several institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in Zurn Elkay Water Solutions Cor by 7.8% in the third quarter. Natixis Advisors LLC now owns 33,301 shares of the company’s stock worth $1,566,000 after purchasing an additional 2,407 shares during the period. Neo Ivy Capital Management purchased a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth about $290,000. Dimensional Fund Advisors LP increased its stake in Zurn Elkay Water Solutions Cor by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,562,543 shares of the company’s stock worth $120,515,000 after buying an additional 32,381 shares during the period. Fisher Asset Management LLC lifted its holdings in Zurn Elkay Water Solutions Cor by 27.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock valued at $48,059,000 after buying an additional 223,168 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $1,616,000. Institutional investors own 83.33% of the company’s stock.

About Zurn Elkay Water Solutions Cor

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.