On Friday, market watchers at Mizuho Research reduced their price target for Zurn Elkay Water Solutions (NYSE: ZWS), bringing it down from $31.00 to $26.00, as reported by The Fly. According to the price objective that Mizuho determined, there is the possibility of an increase of 14.09 percent from the stock’s most recent level.
Several other brokerages have also published reports on ZWS. These reports were published recently. In a research note published on Tuesday, December 20th, Robert W. Baird lowered their target price for Zurn Elkay Water Solutions from $27.00 to $26.00. He downgraded the company from “outperform” to “neutral.” Oppenheimer lowered their price objective for Zurn Elkay Water Solutions from $30.00 to $28.00 and downgraded the company’s rating from “outperform” to “market perform” in a research report published on December 21st. The “overweight” rating that KeyCorp has assigned to Zurn Elkay Water Solutions has led to the price objective for the company being lowered from $34.00 to $32.00. This was the result of the rating change. The findings of the study were made public on Friday, October 14th. Zurn Elkay Water Solutions was given a “buy” rating by Stifel Nicolaus in a research report published on Tuesday, October 11th. In the report, Stifel Nicolaus decreased its target price on Zurn Elkay Water Solutions from $32.00 to $30.00 and lowered its target price on the stock from $32.00 to $30.00. This comes after the company had previously determined that $32 would be its target price. The company was rated “Hold” by only one of the six analysts surveyed, whereas five recommended buying shares. According to the data provided by Bloomberg, the current recommendation for Zurn Elkay Water Solutions is “Moderate Buy,” and the price objective for the company is set at an average of $29.00. Additionally, the price target for the company is set at an average of $29.00.
ZWS shares started trading on Friday for $22.79 per share. The first day of trading was on Friday. This stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -207.18, a price-to-earnings-to-growth ratio of 1.40, and a beta value of 1.27. The ratio of debt to equity is 0.33; the ratio of quick to current assets is 1.22; and the ratio of current assets to total assets is 2.44. Zurn Elkay Water Solutions has never been lower than $20.65, and it has never been higher than $36.22 in the entire history of the product’s pricing. The simple moving average for the stock over the past fifty days is $23.06, and the simple moving average for the company over the past two hundred days is $25.82.
The most recent quarterly earnings report for Zurn Elkay Water Solutions (NYSE: ZWS) was made public on October 25th, which was a Tuesday. The company’s earnings per share for the quarter came in at $0.26, which is $0.02 higher than the consensus estimate of $0.24 that analysts made. In other words, the company outperformed expectations by $0.02. The company only brought in $417.70 million in revenue during the quarter, which is significantly lower than the $420.47 million in revenue anticipated to be generated by the corporation during the period in question. Zurn Elkay Water Solutions did very well, as evidenced by the company’s achievement of a return on equity that was profitable by 26.79% despite keeping a net margin that was unprofitable by 1.61%. According to projections made by industry analysts, Zurn Elkay Water Solutions is expected to generate earnings of $0.96 per share during the current fiscal year.
Several hedge funds have been active in the market for ZWS shares, buying and selling them over the past few days. During the second quarter, Larson Financial Group LLC established a new position in Zurn Elkay Water Solutions, estimated to be worth around $42,000. Point72 Hong Kong Ltd. invested approximately $64,000 in Zurn Elkay Water Solutions during the first three months of 2018. This investment was made to acquire a new interest in the company. Benjamin F. Edwards & Company, Inc. increased the percentage of Zurn Elkay Water Solutions shares that it owned by 21.4% during the third quarter. Benjamin F. Edwards & Company, Inc. now has 4,341 shares, valued at $106,000, after purchasing an additional 766 shares during the most recent quarter. Arlington Partners LLC incurred a total cost of approximately 116,000 dollars to purchase a new position in Zurn Elkay Water Solutions during the year’s second quarter. Last but not least, during the second quarter of the fiscal year, Natixis Investment Managers International made a new investment in Zurn Elkay Water Solutions, which set the company back a total of approximately $137,000 in capital expenditures. 74.65% of the company’s shares are owned by institutional investors and hedge funds, making up most of these shareholders.
Zurn Elkay Water Solutions Corporation designs, purchases, manufactures and distributes water system solutions for non-residential buildings. These solutions supply and improve water quality, safety, flow management, and conservation. The portfolio of Zurn Elkay contains these different types of solutions. In addition to finished plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and replacement parts, the company also sells these products under the Zurn brand name. The company markets its products under the World Dryer brand name, including baby changing stations, hand dryers, and hair dryers.