SJW Group (NYSE:SJW) Upgraded by Bank of America to Buy Rating

SJW Group (NYSE:SJW) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $55.00 target price on the utilities provider’s stock, down from their prior target price of $59.00. Bank of America‘s price target suggests a potential upside of 9.50% from the company’s current price.

Several other equities analysts also recently issued reports on SJW. Wells Fargo & Company dropped their price target on shares of SJW Group from $61.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

SJW Group Stock Performance

SJW Group stock opened at $50.23 on Monday. The business has a 50 day moving average of $50.32 and a 200-day moving average of $55.34. The company has a market capitalization of $1.64 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.68 and a beta of 0.65. SJW Group has a 1 year low of $44.91 and a 1 year high of $62.18. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77.

Hedge Funds Weigh In On SJW Group

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of SJW Group by 2,491.2% during the 2nd quarter. Millennium Management LLC now owns 113,781 shares of the utilities provider’s stock worth $6,169,000 after buying an additional 109,390 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of SJW Group by 29.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock valued at $12,337,000 after acquiring an additional 48,200 shares during the period. Barclays PLC boosted its stake in SJW Group by 376.0% during the third quarter. Barclays PLC now owns 60,140 shares of the utilities provider’s stock worth $3,495,000 after acquiring an additional 47,506 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in SJW Group by 445.4% during the second quarter. Cubist Systematic Strategies LLC now owns 45,946 shares of the utilities provider’s stock worth $2,491,000 after acquiring an additional 37,521 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in SJW Group by 120.1% in the third quarter. Edgestream Partners L.P. now owns 52,072 shares of the utilities provider’s stock worth $3,026,000 after purchasing an additional 28,417 shares during the period. Institutional investors own 84.29% of the company’s stock.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.