Xylem (XYL) Upgraded to Buy by Zacks Investment Research

Xylem (NYSE:XYL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $88.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.48% from the stock’s current price.

According to Zacks, “Xylem’s shares have outperformed the industry in three months’ time. The company reported robust fourth-quarter 2017 results. Xylem believes that improving wastewater transport, dewatering, gas, software & services and analytics business will bolster its revenues in the quarters ahead. Moreover, stronger residential, commercial and industrial applications businesses would likely strengthen revenues going forward. Moreover, Xylem noted that addition of Pure Technologies and EmNet will enhance its competency. Profitability in the upcoming quarters is anticipated to improve on the back of stronger top-line growth and ongoing productivity initiatives. Increased free cash flow generation will likely be spent over dividend payouts, new capital-expenditure programs and debt repayment. Over the last 60 days, Zacks Consensus Estimate for the stock has moved north for both 2018 and 2019.”

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A number of other research firms also recently issued reports on XYL. Cowen reaffirmed a “buy” rating and set a $80.00 price target on shares of Xylem in a research note on Tuesday, March 6th. Canaccord Genuity reaffirmed a “hold” rating and set a $75.00 price target on shares of Xylem in a research note on Sunday, January 28th. Oppenheimer upped their price target on shares of Xylem to $82.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Seaport Global Securities reaffirmed a “buy” rating and set a $83.00 price target on shares of Xylem in a research note on Friday, February 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $86.00 price target on shares of Xylem in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.00.

Xylem (XYL) traded up $0.77 during trading on Tuesday, reaching $78.94. 239,346 shares of the company were exchanged, compared to its average volume of 1,045,337. The stock has a market capitalization of $14,112.60, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12. The company has a current ratio of 1.88, a quick ratio of 1.41 and a debt-to-equity ratio of 0.87. Xylem has a 52 week low of $47.92 and a 52 week high of $79.67.

Xylem (NYSE:XYL) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.76. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Xylem had a net margin of 7.03% and a return on equity of 17.95%. Xylem’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. sell-side analysts anticipate that Xylem will post 2.92 EPS for the current year.

In other news, insider Tomas Brannemo sold 1,151 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $76.41, for a total value of $87,947.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Curtis J. Crawford sold 7,948 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.77, for a total transaction of $570,427.96. Following the completion of the transaction, the director now owns 55,245 shares in the company, valued at $3,964,933.65. The disclosure for this sale can be found here. Insiders have sold 38,244 shares of company stock worth $2,708,073 in the last quarter. Company insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of XYL. BlackRock Inc. grew its holdings in shares of Xylem by 16.0% in the fourth quarter. BlackRock Inc. now owns 14,130,060 shares of the industrial products company’s stock worth $963,668,000 after purchasing an additional 1,949,335 shares during the last quarter. Eaton Vance Management lifted its position in shares of Xylem by 5,143.0% during the fourth quarter. Eaton Vance Management now owns 772,562 shares of the industrial products company’s stock valued at $52,688,000 after buying an additional 757,827 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Xylem by 31.6% during the third quarter. Bank of New York Mellon Corp now owns 2,027,810 shares of the industrial products company’s stock valued at $127,002,000 after buying an additional 487,360 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Xylem by 180.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 734,057 shares of the industrial products company’s stock valued at $50,063,000 after buying an additional 472,188 shares during the last quarter. Finally, TD Asset Management Inc. lifted its position in shares of Xylem by 47.7% during the third quarter. TD Asset Management Inc. now owns 1,222,128 shares of the industrial products company’s stock valued at $76,542,000 after buying an additional 394,814 shares during the last quarter. Hedge funds and other institutional investors own 85.40% of the company’s stock.

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About Xylem

Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.

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