Stifel Nicolaus Forecasts Strong Price Appreciation for Zurn Elkay Water Solutions (NYSE:ZWS) Stock

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) had its price target lifted by stock analysts at Stifel Nicolaus from $38.00 to $39.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 0.62% from the stock's previous close.

A number of other research firms have also recently issued reports on ZWS. Oppenheimer lifted their price target on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on Zurn Elkay Water Solutions from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Mizuho lifted their price target on Zurn Elkay Water Solutions from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.67.

Zurn Elkay Water Solutions Stock Performance

ZWS traded down $0.37 during trading on Friday, reaching $38.76. 557,901 shares of the company's stock were exchanged, compared to its average volume of 705,953. Zurn Elkay Water Solutions has a fifty-two week low of $28.25 and a fifty-two week high of $41.15. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $38.58 and a 200 day moving average price of $35.45. The company has a market capitalization of $6.58 billion, a P/E ratio of 49.06, a PEG ratio of 1.80 and a beta of 1.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.87% and a return on equity of 13.30%. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $406.15 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. As a group, analysts predict that Zurn Elkay Water Solutions will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd A. Adams sold 120,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $39.83, for a total transaction of $4,779,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,242,867 shares in the company, valued at approximately $89,333,392.61. The trade was a 5.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey J. Lavalle sold 3,132 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $39.15, for a total value of $122,617.80. Following the transaction, the vice president now owns 35,422 shares of the company's stock, valued at $1,386,771.30. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,202 shares of company stock valued at $5,061,558. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. DAVENPORT & Co LLC grew its position in shares of Zurn Elkay Water Solutions by 3.2% in the 4th quarter. DAVENPORT & Co LLC now owns 8,559 shares of the company's stock valued at $319,000 after purchasing an additional 269 shares during the period. Pacer Advisors Inc. boosted its position in Zurn Elkay Water Solutions by 78.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,294 shares of the company's stock worth $235,000 after acquiring an additional 2,769 shares during the last quarter. KBC Group NV boosted its position in Zurn Elkay Water Solutions by 53.9% during the 4th quarter. KBC Group NV now owns 6,122 shares of the company's stock worth $228,000 after acquiring an additional 2,144 shares during the last quarter. Crescent Grove Advisors LLC boosted its position in Zurn Elkay Water Solutions by 5.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,435,447 shares of the company's stock worth $90,842,000 after acquiring an additional 130,732 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Zurn Elkay Water Solutions by 986.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,237 shares of the company's stock worth $979,000 after acquiring an additional 23,823 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

Zurn Elkay Water Solutions Company Profile

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.