Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $57.22 Average Price Target from Brokerages

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $57.2222.

A number of analysts recently commented on the company. Zacks Research upgraded Zurn Elkay Water Solutions Cor from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Barclays raised their target price on Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research report on Friday, July 24th. Finally, Royal Bank Of Canada increased their price objective on shares of Zurn Elkay Water Solutions Cor from $56.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Kilter Group LLC bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $25,000. Advisory Services Network LLC bought a new position in Zurn Elkay Water Solutions Cor in the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new position in Zurn Elkay Water Solutions Cor during the fourth quarter valued at $35,000. Finally, Hantz Financial Services Inc. lifted its position in Zurn Elkay Water Solutions Cor by 138.9% during the fourth quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock valued at $37,000 after purchasing an additional 468 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $49.49 on Friday. The firm has a market cap of $8.21 billion, a PE ratio of 30.55, a P/E/G ratio of 1.86 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $49.43 and a two-hundred day simple moving average of $48.81. Zurn Elkay Water Solutions Cor has a 1-year low of $43.06 and a 1-year high of $55.00.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $491.00 million for the quarter, compared to the consensus estimate of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, equities analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.82 EPS for the current year.

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 20th. Zurn Elkay Water Solutions Cor’s dividend payout ratio is currently 27.16%.

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.