Global Water Resources (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $10.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.76% from the stock’s previous close.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Shares of Global Water Resources (GWRS) traded up $0.06 on Wednesday, reaching $9.28. The company’s stock had a trading volume of 4,316 shares, compared to its average volume of 19,356. Global Water Resources has a fifty-two week low of $7.90 and a fifty-two week high of $10.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.55. The firm has a market cap of $185.71, a PE ratio of 118.25, a PEG ratio of 7.01 and a beta of 0.19.

In other news, Director Trevor T. Hill sold 3,206 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $9.76, for a total value of $31,290.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William S. Levine purchased 2,826,615 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $9.29 per share, with a total value of $26,259,253.35. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,827,798 shares of company stock valued at $26,270,373 and sold 8,193 shares valued at $80,116. 49.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers acquired a new stake in shares of Global Water Resources in the second quarter valued at about $101,000. New York State Common Retirement Fund increased its stake in shares of Global Water Resources by 857.5% in the second quarter. New York State Common Retirement Fund now owns 11,500 shares of the utilities provider’s stock valued at $114,000 after buying an additional 10,299 shares during the period. Bank of America Corp DE increased its stake in shares of Global Water Resources by 7.5% in the first quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after buying an additional 1,172 shares during the period. ELCO Management Co. LLC increased its stake in shares of Global Water Resources by 13.0% in the second quarter. ELCO Management Co. LLC now owns 17,659 shares of the utilities provider’s stock valued at $175,000 after buying an additional 2,034 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Global Water Resources by 6.5% in the second quarter. California State Teachers Retirement System now owns 17,958 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,100 shares during the period. 16.82% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/12/20/global-water-resources-gwrs-rating-increased-to-buy-at-zacks-investment-research.html.

Global Water Resources Company Profile

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.