Zurn Elkay Water Solutions Co. (NYSE:ZWS – Get Rating) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 4,030,000 shares, a decrease of 15.9% from the December 31st total of 4,790,000 shares. Currently, 2.8% of the company's shares are short sold. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is currently 2.8 days.
Analysts Set New Price Targets
ZWS has been the subject of several recent analyst reports. Robert W. Baird downgraded shares of Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $27.00 to $26.00 in a research note on Tuesday, December 20th. Oppenheimer reduced their target price on Zurn Elkay Water Solutions from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Wednesday, December 21st. KeyCorp dropped their price target on Zurn Elkay Water Solutions from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 18th. Stifel Nicolaus cut their price objective on Zurn Elkay Water Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, January 20th. Finally, Mizuho lowered their target price on Zurn Elkay Water Solutions from $31.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, January 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.
Get Zurn Elkay Water Solutions alerts:Hedge Funds Weigh In On Zurn Elkay Water Solutions
A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Zurn Elkay Water Solutions by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 166,538 shares of the company's stock worth $5,895,000 after buying an additional 5,067 shares in the last quarter. Raymond James & Associates raised its holdings in Zurn Elkay Water Solutions by 56.7% during the first quarter. Raymond James & Associates now owns 56,374 shares of the company's stock worth $1,996,000 after acquiring an additional 20,393 shares in the last quarter. MetLife Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 48.2% during the first quarter. MetLife Investment Management LLC now owns 63,174 shares of the company's stock valued at $2,236,000 after purchasing an additional 20,555 shares during the last quarter. APG Asset Management N.V. bought a new position in Zurn Elkay Water Solutions in the first quarter valued at approximately $1,094,000. Finally, Synovus Financial Corp increased its position in shares of Zurn Elkay Water Solutions by 9.7% during the 1st quarter. Synovus Financial Corp now owns 26,225 shares of the company's stock worth $934,000 after purchasing an additional 2,318 shares during the last quarter. Institutional investors and hedge funds own 74.65% of the company's stock.
Zurn Elkay Water Solutions Stock Down 3.1 %
Shares of ZWS stock traded down $0.66 on Monday, hitting $20.83. 1,432,482 shares of the stock were exchanged, compared to its average volume of 1,682,231. The business has a 50-day moving average of $22.63 and a 200 day moving average of $25.28. Zurn Elkay Water Solutions has a fifty-two week low of $20.10 and a fifty-two week high of $36.82. The firm has a market capitalization of $3.70 billion, a P/E ratio of -189.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a current ratio of 2.44, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.Zurn Elkay Water Solutions Company Profile
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Zurn Elkay Water Solutions Corp. engages in the design, procurement, manufacture, and sale of water solutions. Its product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, flow systems, and hygienic, environmental, and site works products for public and private spaces.
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