Global Water Resources (NASDAQ:GWRS) Upgraded at Zacks Investment Research

Global Water Resources (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, December 20th. The brokerage presently has a $10.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.90% from the company’s previous close.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Global Water Resources (NASDAQ:GWRS) traded down $0.17 on Wednesday, reaching $8.78. 32,475 shares of the company traded hands, compared to its average volume of 20,733. The firm has a market capitalization of $172.36 and a price-to-earnings ratio of 97.56. Global Water Resources has a 52-week low of $7.90 and a 52-week high of $10.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.55.

In other Global Water Resources news, Director Trevor T. Hill sold 2,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $9.80, for a total value of $27,577.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Trevor T. Hill sold 3,206 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $9.76, for a total transaction of $31,290.56. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,829,598 shares of company stock worth $26,286,789 and sold 8,193 shares worth $80,116. 49.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in shares of Global Water Resources by 6.5% in the second quarter. California State Teachers Retirement System now owns 17,958 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 1,100 shares during the period. Bank of America Corp DE boosted its holdings in shares of Global Water Resources by 7.5% in the first quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 1,172 shares in the last quarter. Bard Associates Inc. boosted its holdings in shares of Global Water Resources by 1.0% in the second quarter. Bard Associates Inc. now owns 203,325 shares of the utilities provider’s stock valued at $2,013,000 after acquiring an additional 2,000 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in shares of Global Water Resources by 13.0% in the second quarter. ELCO Management Co. LLC now owns 17,659 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 2,034 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Global Water Resources by 10.2% in the second quarter. TIAA CREF Investment Management LLC now owns 27,350 shares of the utilities provider’s stock valued at $271,000 after acquiring an additional 2,522 shares in the last quarter. Institutional investors own 16.82% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Global Water Resources (NASDAQ:GWRS) Upgraded at Zacks Investment Research” was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.thelincolnianonline.com/2018/01/13/global-water-resources-gwrs-rating-increased-to-buy-at-zacks-investment-research-updated-updated.html.

Global Water Resources Company Profile

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

Get a free copy of the Zacks research report on Global Water Resources (GWRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply