In direct response to Oppenheimer lowering his price target for Zurn Elkay Water Solutions Co. (NYSE: ZWS) to $35.00, the stock price fell before the market opened on Friday. Prior to the start of trading, the stock price was $24.24, down from a high of $25.15 the previous trading day. As of the close of the last trading session, Zurn Elkay Water Solutions’ stock price was $24.45 and there were 905 trades.
ZWS has recently received comments and suggestions from a wide range of additional research analysts. KeyCorp downgraded Zurn Elkay Water Solutions’ rating from “overweight” in a research note published on July 27. Additionally, KeyCorp lowered its price target for the company from $36.00 to $34.00. In a research note released on June 23, Goldman Sachs Group lowered its “buy” rating and price target on Zurn Elkay Water Solutions from $39.00 to $32.00. The price target remained the same. The target price did not change during the negotiations. Both their “buy” rating and their price target for Zurn Elkay Water Solutions, which had previously been set at $39.00, were removed from a research note published June 2 under “Recent Developments.” The results of a research study conducted and published by Stifel Nicolaus on Zurn Elkay Water Solutions were made public on June 29. They suggested investing in the stock and setting a price target of $34.00 for the stock. Baird lowered its price target for Zurn Elkay Water Solutions from $38.00 to $34.00 in a research report released Wednesday, July 27. This was the last reduction, but it was by no means the least significant. According to information provided by Bloomberg, six different equity research professionals have recommended investors buy the stock. Most analysts gave Zurn Elkay Water Solutions a “Buy” recommendation, and the price target was set at $34.50.
As a result, the proportions of shares held by institutional investors and hedge funds have been rebalanced. The value of Lindbrook Capital LLC’s holdings in Zurn Elkay Water Solutions increased by 5,992.3% in the first three months of the year. After making 779 additional stock purchases during the relevant period, Lindbrook Capital LLC now owns 792 shares of the company, each of which is worth $28,000. These shares were acquired during the period in question. During the second quarter, Larson Financial Group LLC established a new position in Zurn Elkay Water Solutions, valued at approximately $42,000. Point72 Hong Kong Ltd. invested approximately $64,000 in Zurn Elkay Water Solutions in the first three months of 2018. This investment was made to acquire a new stake in the company. In the second quarter, Arlington Partners LLC completed the purchase of a new position in Zurn Elkay Water Solutions at an estimated price of nearly $116,000. Finally, in the second quarter, Natixis Investment Managers International made a new investment in Zurn Elkay Water Solutions for an approximate value of $137,000. It was certainly not the least important development, however. Institutions currently hold 84.89% of the company’s shares.
The company recorded a moving average of $30.03 over the past 200 days, while the moving average for the past 50 days was $28.37. As a result, the debt ratio was calculated at 2.32, the quick ratio at 1.43 and the current ratio at 2.44. The company’s market capitalization is estimated at $4.35 billion and its price-to-earnings ratio is currently calculated at 47.94. The PEG ratio of this substance is 1.32 and its beta value is also 1.32. However, the PEG ratio of this substance is 1.46.
On Tuesday, July 26, Zurn Elkay Water Solutions (NYSE: ZWS) released its latest earnings report. This report is available on their website. The company reported earnings per share (EPS) for the period at $0.32, $0.03 higher than the average estimate of $0.29. Zurn Elkay Water Solutions had a net margin of 4.90% and the company’s return on equity was 30.72%. The company was expected to report $278.77 million in revenue for the quarter, but it reported $284.20 million, a significant increase from the expected amount. Additionally, the company generated $0.58 per share in the same period last year. As reported by analysts researching stock markets, Zurn Elkay Water Solutions Co. is expected to earn $1.02 per share throughout this year, as reported by analysts researching stock markets. stock markets. Additionally, Zurn Elkay Water Solutions Co. is expected to earn $1.02 per share throughout this year.
Additionally, the company announced a quarterly dividend, which was paid on September 7 and then distributed to shareholders on the same day. On Friday, August 19, 2018, the company paid a dividend of $0.07 to shareholders whose names were already on the company’s books. Therefore, this represents an increase from the previous quarterly dividend payment made by Zurn Elkay Water Solutions, which was $0.03. This equates to a dividend payout of $0.28 per year and a dividend yield of 1.14%. Both figures are expressed on an annual basis. Also, this particular payment had a day that was considered an “ex-dividend” day on August 18, which was a Thursday. Zurn Elkay Water Solutions’ dividend payout ratio is currently 54.90%.
Zurn Elkay Water Solutions Corporation designs, sources, manufactures and distributes water system solutions for non-residential buildings. These solutions provide and improve water quality, safety, flow management and conservation. Zurn Elkay’s portfolio contains these different types of solutions. In addition to finished plumbing, drainage, interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and replacement parts, the company also sells these products under the Zurn brand. Additionally, the company sells items such as changing tables, hand dryers and hair dryers under the World Dryer brand.