Zurn Elkay Water Solutions Cor (NYSE:ZWS) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

A number of other brokerages also recently issued reports on ZWS. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Royal Bank Of Canada lowered their price target on Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, October 14th. Barclays lifted their target price 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Zurn Elkay Water Solutions Cor Price Performance

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

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

Insiders Place Their Bets

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, with a total value of $99,993.60. Following the transaction, the director owned 37,487 shares of the company’s stock, valued at $1,859,355.20. This represents a 5.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Zurn Elkay Water Solutions Cor

Large investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its position in Zurn Elkay Water Solutions Cor by 0.5% during the second quarter. Arizona State Retirement System now owns 41,607 shares of the company’s stock valued at $2,102,000 after purchasing an additional 220 shares during the period. Assetmark Inc. grew its position in Zurn Elkay Water Solutions Cor by 53.0% during the 1st quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after purchasing an additional 292 shares during the period. GAMMA Investing LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,708 shares of the company’s stock valued at $187,000 after buying an additional 331 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 26.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,688 shares of the company’s stock valued at $78,000 after buying an additional 349 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Zurn Elkay Water Solutions Cor by 1.8% during the 1st quarter. Bleakley Financial Group LLC now owns 22,285 shares of the company’s stock valued at $999,000 after buying an additional 394 shares during the last quarter. 83.33% of the stock is owned by hedge funds and other 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.