Zurn Elkay Water Solutions Cor (NYSE:ZWS) Receives $54.88 Average Target Price from Analysts

Shares of Zurn Elkay Water Solutions Cor (NYSE:ZWS) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $54.8750.

A number of analysts recently weighed in on ZWS shares. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Weiss Ratings raised shares of Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Stifel Nicolaus raised their price target on shares of Zurn Elkay Water Solutions Cor from $53.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd.

Institutional Trading of Zurn Elkay Water Solutions Cor

Institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new stake in Zurn Elkay Water Solutions Cor during the 4th quarter worth $35,000. Fifth Third Bancorp grew its holdings in Zurn Elkay Water Solutions Cor by 49.7% during the 3rd quarter. Fifth Third Bancorp now owns 771 shares of the company’s stock worth $36,000 after acquiring an additional 256 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Zurn Elkay Water Solutions Cor by 138.9% during the 4th quarter. Hantz Financial Services Inc. now owns 805 shares of the company’s stock worth $37,000 after acquiring an additional 468 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of Zurn Elkay Water Solutions Cor stock opened at $47.35 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.11. The firm has a market cap of $7.90 billion, a P/E ratio of 38.19, a P/E/G ratio of 1.87 and a beta of 1.06. The firm has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $47.93. Zurn Elkay Water Solutions Cor has a fifty-two week low of $35.06 and a fifty-two week high of $53.76.

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

Zurn Elkay Water Solutions Cor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were 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 was Wednesday, May 20th. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.48%.

About Zurn Elkay Water Solutions Cor

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.