Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Gets Downgrade from Zacks Research

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

ZWS has been the topic of several other research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Barclays boosted their price target on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, Royal Bank Of Canada reduced their price objective on shares of Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 14th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Zurn Elkay Water Solutions Cor Price Performance

Zurn Elkay Water Solutions Cor stock opened at $48.37 on Tuesday. The business’s 50-day simple moving average is $47.48 and its 200 day simple moving average is $48.48. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.74 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a 12-month low of $43.06 and a 12-month high of $55.00. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. As a group, research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jacques Butler bought 2,016 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $49.60 per share, for a total transaction of $99,993.60. Following the purchase, the director owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently made changes to their positions in the business. Kilter Group LLC acquired a new position in Zurn Elkay Water Solutions Cor during the second quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter valued at about $27,000. Assetmark Inc. lifted its position in Zurn Elkay Water Solutions Cor by 53.0% during the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after acquiring an additional 292 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Zurn Elkay Water Solutions Cor during the second quarter worth approximately $49,000. 83.33% of the stock is owned by institutional investors.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.