Evoqua Water Technologies (NYSE:AQUA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Evoqua Water Technologies (NYSE:AQUA) from a sell rating to a hold rating in a report published on Monday, Zacks.com reports.

According to Zacks, “Evoqua Water Technologies Corp. is a provider of mission critical water treatment solutions. The company offer services, systems and technologies to support customers’ full water lifecycle. Its operating segment consists of Industrial, Municipal and Products. Industrial Segment provides fully-integrated systems and service solutions. Municipal Segment provides engineered solutions and equipment for the treatment of wastewater, purification of drinking water and odor and corrosion control for municipalities. Products Segment sells differentiated technologies to a diverse set of water treatment system specifiers, integrators and end users globally. Evoqua Water Technologies Corp. is based in PITTSBURGH, United States. “

Several other equities research analysts have also issued reports on the stock. Berenberg Bank raised shares of Evoqua Water Technologies from a hold rating to a buy rating and increased their price objective for the stock from $25.00 to $34.00 in a research report on Tuesday, March 23rd. Credit Suisse Group raised their price target on shares of Evoqua Water Technologies from $32.00 to $37.00 and gave the stock an outperform rating in a research report on Wednesday, June 23rd. Raymond James cut shares of Evoqua Water Technologies from a strong-buy rating to an outperform rating and set a $35.00 price objective on the stock. in a report on Wednesday, July 7th. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their price objective on shares of Evoqua Water Technologies from $34.00 to $38.00 and gave the stock an outperform rating in a report on Wednesday, June 16th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Evoqua Water Technologies currently has an average rating of Buy and an average target price of $32.11.

Shares of NYSE:AQUA opened at $32.69 on Monday. The stock’s fifty day moving average is $31.82. Evoqua Water Technologies has a 12 month low of $18.60 and a 12 month high of $34.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.07 and a quick ratio of 1.62. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 61.68 and a beta of 1.89.

Evoqua Water Technologies (NYSE:AQUA) last posted its quarterly earnings data on Wednesday, May 5th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Evoqua Water Technologies had a net margin of 4.58% and a return on equity of 15.43%. The company had revenue of $346.56 million for the quarter, compared to analyst estimates of $342.00 million. During the same period in the previous year, the business posted $0.06 earnings per share. Evoqua Water Technologies’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Evoqua Water Technologies will post 0.64 EPS for the current fiscal year.

In other Evoqua Water Technologies news, EVP Vincent Grieco sold 18,813 shares of the business’s stock in a transaction on Friday, June 4th. The stock was sold at an average price of $32.00, for a total value of $602,016.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Lamb sold 10,000 shares of the business’s stock in a transaction on Friday, May 21st. The shares were sold at an average price of $30.01, for a total value of $300,100.00. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock valued at $4,489,219 over the last 90 days. 4.39% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC boosted its stake in shares of Evoqua Water Technologies by 268.5% in the 1st quarter. DAVENPORT & Co LLC now owns 2,974,905 shares of the company’s stock worth $78,240,000 after buying an additional 2,167,608 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Evoqua Water Technologies by 23.5% in the first quarter. BlackRock Inc. now owns 10,517,395 shares of the company’s stock valued at $276,608,000 after purchasing an additional 1,999,294 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of Evoqua Water Technologies by 41.2% in the first quarter. Champlain Investment Partners LLC now owns 5,895,410 shares of the company’s stock valued at $155,049,000 after purchasing an additional 1,718,870 shares during the period. UBS Asset Management Americas Inc. raised its stake in Evoqua Water Technologies by 1,264.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,385,384 shares of the company’s stock worth $37,378,000 after buying an additional 1,283,870 shares in the last quarter. Finally, APG Asset Management N.V. bought a new position in Evoqua Water Technologies in the first quarter worth approximately $28,716,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About Evoqua Water Technologies

Evoqua Water Technologies Corp. provides water and wastewater treatment systems and technologies, and mobile and emergency water supply solutions and services for industrial, commercial, and municipal water treatment markets. It operates in two segments, Integrated Solutions and Services, and Applied Product Technologies.

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