Deutsche Bank Aktiengesellschaft Trims Zurn Elkay Water Solutions (NYSE:ZWS) Target Price to $36.00

Zurn Elkay Water Solutions (NYSE:ZWS) had its price objective decreased by research analysts at Deutsche Bank Aktiengesellschaft from $37.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 14.72% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Tuesday, March 12th. They set an “outperform” rating and a $40.00 price objective for the company. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.50.

Zurn Elkay Water Solutions Stock Performance

Zurn Elkay Water Solutions stock traded down $0.74 during midday trading on Thursday, hitting $31.38. The company’s stock had a trading volume of 727,285 shares, compared to its average volume of 979,346. Zurn Elkay Water Solutions has a 1-year low of $20.06 and a 1-year high of $34.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.02 and a quick ratio of 1.77. The company has a 50-day moving average price of $31.94 and a two-hundred day moving average price of $29.98. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 44.20, a PEG ratio of 1.82 and a beta of 1.22.

Zurn Elkay Water Solutions (NYSE:ZWS) last issued its earnings results on Tuesday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.87%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. As a group, sell-side analysts predict that Zurn Elkay Water Solutions will post 1.15 earnings per share for the current year.

Insider Activity

In other news, major shareholder Ice Mountain Llc sold 249,582 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total value of $7,996,607.28. Following the sale, the insider now directly owns 24,505,660 shares of the company’s stock, valued at approximately $785,161,346.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Ice Mountain Llc sold 249,582 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $32.04, for a total transaction of $7,996,607.28. Following the transaction, the insider now directly owns 24,505,660 shares of the company’s stock, valued at $785,161,346.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Troutman sold 897 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total transaction of $27,537.90. Following the transaction, the insider now owns 43,026 shares in the company, valued at approximately $1,320,898.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 741,506 shares of company stock valued at $23,964,936. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Zurn Elkay Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in ZWS. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Zurn Elkay Water Solutions by 145.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,210,447 shares of the company’s stock valued at $202,037,000 after purchasing an additional 4,268,785 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Zurn Elkay Water Solutions by 2,110.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,311,046 shares of the company’s stock valued at $67,968,000 after purchasing an additional 2,206,508 shares during the last quarter. Norges Bank purchased a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at about $39,532,000. Raymond James & Associates grew its position in Zurn Elkay Water Solutions by 1,622.8% during the fourth quarter. Raymond James & Associates now owns 1,244,205 shares of the company’s stock valued at $36,592,000 after buying an additional 1,171,985 shares during the period. Finally, Stifel Financial Corp grew its position in Zurn Elkay Water Solutions by 3,236.0% during the fourth quarter. Stifel Financial Corp now owns 506,269 shares of the company’s stock valued at $14,889,000 after buying an additional 491,093 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.