Oppenheimer Increases Zurn Elkay Water Solutions (NYSE:ZWS) Price Target to $40.00

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) had its price objective lifted by analysts at Oppenheimer from $37.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 9.56% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.40.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded down $0.36 on Tuesday, reaching $36.51. The company's stock had a trading volume of 866,698 shares, compared to its average volume of 1,120,473. Zurn Elkay Water Solutions has a 12-month low of $25.09 and a 12-month high of $38.11. The stock has a market capitalization of $6.31 billion, a P/E ratio of 51.42, a PEG ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. The stock's 50 day simple moving average is $33.89 and its two-hundred day simple moving average is $32.08.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $412.00 million for the quarter, compared to the consensus estimate of $409.14 million. Zurn Elkay Water Solutions had a return on equity of 12.82% and a net margin of 8.80%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. Research analysts forecast that Zurn Elkay Water Solutions will post 1.21 earnings per share for the current fiscal year.

Insider Transactions at Zurn Elkay Water Solutions

In other news, Director Timothy J. Jahnke sold 4,086 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the sale, the director now directly owns 389,399 shares of the company's stock, valued at $12,854,060.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now owns 80,151 shares in the company, valued at approximately $2,608,915.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Jahnke sold 4,086 shares of Zurn Elkay Water Solutions stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.01, for a total transaction of $134,878.86. Following the transaction, the director now directly owns 389,399 shares of the company's stock, valued at $12,854,060.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,572 shares of company stock valued at $3,473,472. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Zurn Elkay Water Solutions by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,738,204 shares of the company's stock worth $404,041,000 after buying an additional 131,683 shares in the last quarter. Thrive Wealth Management LLC bought a new position in Zurn Elkay Water Solutions during the 1st quarter worth about $231,000. Cannon Global Investment Management LLC bought a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter valued at about $341,000. AlphaMark Advisors LLC purchased a new stake in shares of Zurn Elkay Water Solutions in the 1st quarter worth approximately $347,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Zurn Elkay Water Solutions by 0.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 685,528 shares of the company's stock valued at $22,945,000 after purchasing an additional 3,189 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company's stock.

About Zurn Elkay Water Solutions

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.