Evoqua Water Technologies (NYSE:AQUA) Downgraded to Sell at Zacks Investment Research

Evoqua Water Technologies (NYSE:AQUA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, 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. “

Other research analysts have also recently issued research reports about the company. Citigroup increased their target price on Evoqua Water Technologies from $31.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 4th. Credit Suisse Group raised their price objective on Evoqua Water Technologies from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Royal Bank of Canada raised their price objective on Evoqua Water Technologies from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, June 16th. They noted that the move was a valuation call. Raymond James raised their price objective on Evoqua Water Technologies from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Finally, Robert W. Baird raised their price objective on Evoqua Water Technologies from $32.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Evoqua Water Technologies currently has a consensus rating of “Buy” and an average target price of $35.22.

AQUA traded up $0.14 during trading on Wednesday, reaching $37.64. The stock had a trading volume of 15,787 shares, compared to its average volume of 1,137,485. The stock has a market cap of $4.51 billion, a PE ratio of 81.83 and a beta of 1.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.36 and a current ratio of 1.79. Evoqua Water Technologies has a one year low of $18.60 and a one year high of $39.95. The business has a 50-day moving average of $35.79 and a 200-day moving average of $31.43.

Evoqua Water Technologies (NYSE:AQUA) last released its earnings results on Tuesday, August 3rd. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). The firm had revenue of $369.68 million during the quarter, compared to the consensus estimate of $364.15 million. Evoqua Water Technologies had a net margin of 3.93% and a return on equity of 13.58%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. Equities research analysts forecast that Evoqua Water Technologies will post 0.6 EPS for the current fiscal year.

In other Evoqua Water Technologies news, Director Judd A. Gregg sold 13,000 shares of the firm’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $35.67, for a total value of $463,710.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Webster sold 66,861 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $35.01, for a total transaction of $2,340,803.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,959 shares of company stock valued at $5,187,750. 4.39% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its stake in shares of Evoqua Water Technologies by 1.5% during the second quarter. Parametric Portfolio Associates LLC now owns 172,328 shares of the company’s stock valued at $5,821,000 after purchasing an additional 2,516 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Evoqua Water Technologies during the second quarter valued at approximately $1,971,000. Walleye Trading LLC bought a new stake in shares of Evoqua Water Technologies during the second quarter valued at approximately $896,000. Metropolitan Life Insurance Co NY increased its position in shares of Evoqua Water Technologies by 105,912.9% during the second quarter. Metropolitan Life Insurance Co NY now owns 32,864 shares of the company’s stock valued at $1,110,000 after acquiring an additional 32,833 shares in the last quarter. Finally, Man Group plc increased its position in shares of Evoqua Water Technologies by 11.1% during the second quarter. Man Group plc now owns 18,942 shares of the company’s stock valued at $640,000 after acquiring an additional 1,894 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

About Evoqua Water Technologies

Evoqua Water Technologies Corp. is a holding company, which engages in the provision of water treatment solutions. It operates through the Integrated Solutions and Services and Applied Product Technologies business segments. The Integrated Solutions and Services segment focuses on engaging directly with end users.

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