Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Price Target Lowered at Royal Bank Of Canada

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its price target dropped by stock analysts at Royal Bank Of Canada from $58.00 to $54.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 15.42% from the company’s previous close.

Several other research analysts have also weighed in on the company. Barclays upped their price target on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Oppenheimer raised their price objective on Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus lifted their target price on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Zurn Elkay Water Solutions Cor Stock Down 0.9%

NYSE:ZWS traded down $0.41 during trading hours on Wednesday, hitting $46.78. 73,207 shares of the stock traded hands, compared to its average volume of 994,568. The firm has a 50 day moving average price of $47.99 and a 200 day moving average price of $48.36. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.71 and a beta of 1.07. Zurn Elkay Water Solutions Cor has a fifty-two week low of $43.06 and a fifty-two week high of $55.00. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. Zurn Elkay Water Solutions Cor’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current year.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler bought 2,016 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $49.60 per share, with a total value of $99,993.60. Following the purchase, the director directly owned 37,487 shares of the company’s stock, valued at approximately $1,859,355.20. This represents a 5.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

A number of hedge funds have recently modified their holdings of ZWS. BlackRock Inc. purchased a new stake in shares of Zurn Elkay Water Solutions Cor during the second quarter worth $1,241,345,000. Bank of America Corp DE acquired a new stake in Zurn Elkay Water Solutions Cor during the second quarter valued at $278,160,000. Jupiter Topco LLC purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at about $172,287,000. Dimensional Fund Advisors LP grew its stake in Zurn Elkay Water Solutions Cor by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,563,031 shares of the company’s stock valued at $114,913,000 after purchasing an additional 8,752 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Zurn Elkay Water Solutions Cor in the second quarter valued at about $55,207,000. 83.33% of the stock is owned by institutional investors and hedge funds.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a water management and plumbing products company serving commercial, institutional, industrial and residential markets. Its products are designed to support the collection, control, conservation, treatment and delivery of water in buildings and other infrastructure.

The company offers plumbing and drainage products, including drains, fixtures, faucets, flush valves, backflow prevention devices, water control systems and related accessories.