Royal Bank Of Canada Reaffirms Buy Rating for Mueller Water Products (MWA)
Royal Bank Of Canada reissued their buy rating on shares of Mueller Water Products (NYSE:MWA) in a report released on Wednesday morning. The brokerage currently has a $14.00 price target on the industrial products company’s stock.
Several other brokerages have also issued reports on MWA. Boenning Scattergood upgraded Mueller Water Products from a neutral rating to an outperform rating and set a $14.00 price objective for the company in a research report on Tuesday, September 5th. Robert W. Baird reiterated a hold rating and issued a $14.00 price objective on shares of Mueller Water Products in a research report on Wednesday, October 4th. BidaskClub lowered Mueller Water Products from a buy rating to a hold rating in a research report on Friday, August 25th. Cowen and Company reiterated a hold rating and issued a $12.00 price objective on shares of Mueller Water Products in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded Mueller Water Products from a sell rating to a hold rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $13.75.
Mueller Water Products (NYSE:MWA) traded down 0.56% during mid-day trading on Wednesday, reaching $12.49. 611,379 shares of the company’s stock were exchanged. Mueller Water Products has a 52 week low of $10.45 and a 52 week high of $14.20. The stock has a 50-day moving average price of $12.37 and a 200-day moving average price of $11.76. The stock has a market cap of $1.98 billion, a P/E ratio of 15.52 and a beta of 1.29.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $232.20 million during the quarter, compared to analyst estimates of $235.07 million. Mueller Water Products had a return on equity of 16.85% and a net margin of 14.47%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. On average, analysts forecast that Mueller Water Products will post $0.44 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP lifted its stake in Mueller Water Products by 16.1% in the 2nd quarter. WFG Advisors LP now owns 51,342 shares of the industrial products company’s stock valued at $600,000 after acquiring an additional 7,133 shares in the last quarter. Colony Group LLC bought a new stake in Mueller Water Products in the 2nd quarter valued at approximately $135,000. Koch Industries Inc. bought a new stake in Mueller Water Products in the 2nd quarter valued at approximately $190,000. Robecosam AG bought a new stake in Mueller Water Products in the 2nd quarter valued at approximately $4,357,000. Finally, Ameritas Investment Partners Inc. lifted its stake in Mueller Water Products by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other 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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