Royal Bank Of Canada Issues Positive Forecast for Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Price

Zurn Elkay Water Solutions Cor (NYSE:ZWS) had its target price boosted by investment analysts at Royal Bank Of Canada from $56.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 16.31% from the company’s current price.

ZWS has been the subject of a number of other research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Barclays initiated coverage on shares of Zurn Elkay Water Solutions Cor in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Zurn Elkay Water Solutions Cor presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Zurn Elkay Water Solutions Cor Trading Down 3.3%

ZWS stock traded down $1.68 during trading on Thursday, reaching $49.87. 950,067 shares of the stock traded hands, compared to its average volume of 1,052,293. The business’s 50 day moving average price is $48.42 and its 200-day moving average price is $48.35. Zurn Elkay Water Solutions Cor has a 52-week low of $42.39 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The firm has a market capitalization of $8.32 billion, a PE ratio of 30.81, a P/E/G ratio of 1.95 and a beta of 1.04.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly 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 company had revenue of $491.00 million during the quarter, compared to analyst estimates of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.17% and a net margin of 15.45%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in shares of Zurn Elkay Water Solutions Cor in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Zurn Elkay Water Solutions Cor during the fourth quarter worth approximately $35,000. Hantz Financial Services Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 138.9% in the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after buying an additional 468 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Zurn Elkay Water Solutions Cor by 53.0% in the first quarter. Assetmark Inc. now owns 843 shares of the company’s stock worth $38,000 after buying an additional 292 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.