Zurn Elkay Water Solutions Cor (NYSE:ZWS) Upgraded to Strong-Buy at Barclays

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

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

Zurn Elkay Water Solutions Cor Price Performance

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

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The business had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $418.99 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Hedge Funds Weigh In On Zurn Elkay Water Solutions Cor

Several large investors have recently added to or reduced their stakes in ZWS. Alliancebernstein L.P. lifted its position in Zurn Elkay Water Solutions Cor by 1,714.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,369,731 shares of the company’s stock valued at $158,478,000 after acquiring an additional 3,184,048 shares in the last quarter. Norges Bank bought a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth approximately $111,341,000. First Trust Advisors LP increased its holdings in Zurn Elkay Water Solutions Cor by 51.9% during the 4th quarter. First Trust Advisors LP now owns 3,303,735 shares of the company’s stock worth $153,591,000 after purchasing an additional 1,128,917 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Zurn Elkay Water Solutions Cor by 4,236.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 455,834 shares of the company’s stock worth $20,440,000 after purchasing an additional 445,323 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Zurn Elkay Water Solutions Cor by 78.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,884 shares of the company’s stock valued at $42,161,000 after purchasing an additional 399,180 shares in the last quarter. Institutional investors 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.