Barclays Upgrades Zurn Elkay Water Solutions Cor (NYSE:ZWS) to “Strong-Buy”

Zurn Elkay Water Solutions Cor (NYSE:ZWS) was upgraded by research analysts at Barclays to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on ZWS. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, April 23rd. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their target price on Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of NYSE ZWS opened at $50.56 on Tuesday. Zurn Elkay Water Solutions Cor has a 12 month low of $35.73 and a 12 month high of $53.76. The stock has a 50 day moving average of $49.27 and a 200-day moving average of $48.20. The company has a current ratio of 3.24, a quick ratio of 2.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.44 billion, a P/E ratio of 40.77, a P/E/G ratio of 1.97 and a beta of 1.06.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. As a group, equities research analysts predict that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Institutional Investors Weigh In On Zurn Elkay Water Solutions Cor

Several hedge funds have recently modified their holdings of ZWS. Nordea Investment Management AB bought a new stake in shares of Zurn Elkay Water Solutions Cor in the 4th quarter valued at about $7,356,000. JPMorgan Chase & Co. raised its position in shares of Zurn Elkay Water Solutions Cor by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 1,457,689 shares of the company’s stock worth $68,555,000 after acquiring an additional 113,425 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Zurn Elkay Water Solutions Cor by 27.9% during the third quarter. Fisher Asset Management LLC now owns 1,021,874 shares of the company’s stock worth $48,059,000 after acquiring an additional 223,168 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new position in shares of Zurn Elkay Water Solutions Cor in the fourth quarter worth approximately $1,205,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Zurn Elkay Water Solutions Cor by 73.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,827 shares of the company’s stock worth $6,129,000 after acquiring an additional 55,490 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.