Xylem Inc. (XYL) Given New $60.00 Price Target at Oppenheimer Holdings, Inc.
Xylem Inc. (NYSE:XYL) had its price target hoisted by Oppenheimer Holdings, Inc. from $58.00 to $60.00 in a report released on Wednesday, July 12th. The firm currently has an outperform rating on the industrial products company’s stock.
XYL has been the subject of a number of other research reports. CIBC reissued a buy rating on shares of Xylem in a research report on Wednesday, May 10th. Stifel Nicolaus reissued a hold rating and issued a $52.00 price objective on shares of Xylem in a research report on Friday, May 26th. Zacks Investment Research raised shares of Xylem from a hold rating to a buy rating and set a $62.00 price target for the company in a research report on Tuesday, July 4th. Boenning Scattergood reissued a buy rating and issued a $55.00 price objective on shares of Xylem in a research report on Wednesday, June 7th. Finally, BidaskClub upgraded shares of Xylem from a sell rating to a hold rating in a research note on Saturday, June 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $58.23.
Shares of Xylem (NYSE:XYL) opened at 60.04 on Wednesday. The firm has a market cap of $10.78 billion, a P/E ratio of 38.76 and a beta of 1.18. Xylem has a 12-month low of $45.60 and a 12-month high of $60.14. The firm has a 50-day moving average of $55.49 and a 200-day moving average of $51.39.
Xylem (NYSE:XYL) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Xylem had a net margin of 7.08% and a return on equity of 16.02%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts forecast that Xylem will post $2.36 earnings per share for the current fiscal year.
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In related news, Director Steven R. Loranger sold 66,132 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $55.01, for a total transaction of $3,637,921.32. Following the completion of the sale, the director now directly owns 65,030 shares in the company, valued at $3,577,300.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Peoples Financial Services CORP. boosted its stake in Xylem by 3.2% in the first quarter. Peoples Financial Services CORP. now owns 6,463 shares of the industrial products company’s stock valued at $324,000 after buying an additional 200 shares in the last quarter. Bank of America Corp DE boosted its stake in Xylem by 4.2% in the first quarter. Bank of America Corp DE now owns 2,251,684 shares of the industrial products company’s stock valued at $113,079,000 after buying an additional 91,478 shares in the last quarter. Toronto Dominion Bank boosted its stake in Xylem by 56.6% in the first quarter. Toronto Dominion Bank now owns 48,431 shares of the industrial products company’s stock valued at $2,433,000 after buying an additional 17,497 shares in the last quarter. Asset Planning Services Ltd. boosted its stake in Xylem by 0.3% in the first quarter. Asset Planning Services Ltd. now owns 2,107 shares of the industrial products company’s stock valued at $106,000 after buying an additional 7 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Xylem by 23.1% in the fourth quarter. Teachers Advisors LLC now owns 242,609 shares of the industrial products company’s stock valued at $12,014,000 after buying an additional 45,505 shares in the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.
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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