Mueller Water Products (MWA) Rating Reiterated by Cowen and Company
Mueller Water Products (NYSE:MWA)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a research report issued to clients and investors on Thursday. They presently have a $12.00 price objective on the industrial products company’s stock. Cowen and Company’s price target indicates a potential downside of 3.07% from the company’s current price.
A number of other equities research analysts have also recently commented on the stock. Robert W. Baird reiterated a “hold” rating and set a $13.00 price target on shares of Mueller Water Products in a report on Friday, September 8th. Boenning Scattergood upgraded shares of Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Tuesday, September 5th. BidaskClub cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. set a $13.00 price target on shares of Mueller Water Products and gave the company a “buy” rating in a report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $13.67.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. Mueller Water Products had a net margin of 14.47% and a return on equity of 16.85%. The firm had revenue of $232.20 million for the quarter, compared to analysts’ expectations of $235.07 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis.
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Hedge funds have recently modified their holdings of the stock. Bluestein R H & Co. purchased a new stake in Mueller Water Products in the first quarter worth approximately $118,000. Blair William & Co. IL purchased a new stake in Mueller Water Products in the first quarter worth approximately $124,000. Nomura Holdings Inc. purchased a new stake in Mueller Water Products in the first quarter worth approximately $125,000. BlueCrest Capital Management Ltd purchased a new stake in Mueller Water Products in the first quarter worth approximately $133,000. Finally, Colony Group LLC purchased a new stake in Mueller Water Products in the second quarter worth approximately $135,000. Institutional investors own 84.72% of the company’s stock.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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