Janney Montgomery Scott upgraded shares of American Water (NYSE:AWK) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat Ratings reports. Janney Montgomery Scott currently has $92.00 target price on the utilities provider’s stock, up from their previous target price of $87.00. The analysts noted that the move was a valuation call.
AWK has been the topic of several other research reports. Bank of America cut shares of American Water from a buy rating to a neutral rating and lifted their target price for the stock from $85.70 to $91.00 in a research report on Thursday, January 11th. Zacks Investment Research cut shares of American Water from a hold rating to a sell rating in a research report on Tuesday, January 9th. HSBC raised shares of American Water from a hold rating to a buy rating and lifted their target price for the stock from $74.63 to $80.15 in a research report on Friday, March 23rd. Guggenheim reissued a hold rating and set a $82.00 target price on shares of American Water in a research report on Friday, February 23rd. Finally, Robert W. Baird reissued a neutral rating and set a $88.00 target price (down previously from $91.00) on shares of American Water in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $89.52.
American Water stock opened at $83.68 on Monday. American Water has a 52 week low of $74.63 and a 52 week high of $92.37. The company has a current ratio of 0.31, a quick ratio of 0.29 and a debt-to-equity ratio of 1.21. The company has a market cap of $14,751.96, a price-to-earnings ratio of 27.62, a PEG ratio of 3.39 and a beta of 0.16.
American Water (NYSE:AWK) last posted its earnings results on Tuesday, February 20th. The utilities provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. American Water had a net margin of 12.69% and a return on equity of 10.03%. The firm had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $843.36 million. During the same quarter last year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts expect that American Water will post 3.26 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Resources Investment Advisors Inc. purchased a new position in American Water in the 4th quarter valued at approximately $152,000. Truewealth LLC purchased a new position in American Water in the 4th quarter valued at approximately $189,000. Lakeview Capital Partners LLC purchased a new position in American Water in the 4th quarter valued at approximately $214,000. Pinnacle Associates Ltd. purchased a new position in American Water in the 4th quarter valued at approximately $218,000. Finally, Haverford Trust Co. purchased a new position in American Water in the 4th quarter valued at approximately $221,000. Institutional investors own 84.76% of the company’s stock.
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About American Water
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.
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