Jefferies Financial Group Begins Coverage on Zurn Elkay Water Solutions Cor (NYSE:ZWS)

by · The Markets Daily

Equities researchers at Jefferies Financial Group started coverage on shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $58.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 22.95% from the stock’s previous close.

ZWS has been the subject of several other research reports. The Goldman Sachs Group restated a “neutral” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 30th. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Stifel Nicolaus upped their price target on shares of Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Mizuho set a $49.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Zurn Elkay Water Solutions Cor currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Get Our Latest Stock Report on Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Cor Stock Performance

NYSE:ZWS opened at $47.18 on Friday. The firm has a market capitalization of $7.89 billion, a PE ratio of 42.12, a PEG ratio of 2.26 and a beta of 1.08. The stock’s fifty day moving average is $46.84 and its 200 day moving average is $43.28. Zurn Elkay Water Solutions Cor has a fifty-two week low of $27.74 and a fifty-two week high of $50.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.83 and a current ratio of 2.78.

Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Zurn Elkay Water Solutions Cor had a net margin of 11.59% and a return on equity of 16.26%. The business had revenue of $455.40 million for the quarter, compared to analysts’ expectations of $442.62 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current year.

Insider Transactions at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 10,539 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $47.51, for a total value of $500,707.89. Following the completion of the transaction, the director owned 169,461 shares of the company’s stock, valued at $8,051,092.11. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 22,256 shares of company stock worth $1,062,602 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in Zurn Elkay Water Solutions Cor in the third quarter valued at about $25,000. Whittier Trust Co. bought a new position in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter worth approximately $26,000. First Horizon Advisors Inc. lifted its position in Zurn Elkay Water Solutions Cor by 249.8% during the second quarter. First Horizon Advisors Inc. now owns 703 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. Fifth Third Bancorp lifted its position in Zurn Elkay Water Solutions Cor by 49.7% during the third quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock valued at $36,000 after acquiring an additional 256 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Zurn Elkay Water Solutions Cor in the third quarter worth $45,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

About Zurn Elkay Water Solutions Cor

(Get Free Report)

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.

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