Zacks Investment Research Downgrades Mueller Water Products (NYSE:MWA) to Sell

Zacks Investment Research lowered shares of Mueller Water Products (NYSE:MWA) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “

A number of other brokerages have also issued reports on MWA. Goldman Sachs Group initiated coverage on shares of Tricida in a research note on Wednesday, June 26th. They set a buy rating and a $48.00 target price for the company. Seaport Global Securities initiated coverage on shares of United Technologies in a research note on Friday, May 10th. They set a neutral rating and a $136.86 target price for the company. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Boenning Scattergood reissued a hold rating on shares of Mueller Water Products in a research note on Tuesday, May 7th. Finally, Oppenheimer set a $13.00 target price on shares of Alpine Immune Sciences and gave the company a buy rating in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $11.83.

Shares of NYSE:MWA opened at $9.60 on Wednesday. The firm’s fifty day moving average is $9.63. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.29 and a beta of 1.17. Mueller Water Products has a 12-month low of $8.47 and a 12-month high of $12.59. The company has a quick ratio of 1.89, a current ratio of 3.07 and a debt-to-equity ratio of 0.81.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, May 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $234.00 million for the quarter, compared to analyst estimates of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. Sell-side analysts expect that Mueller Water Products will post 0.6 earnings per share for the current year.

In related news, Director Shirley C. Franklin sold 6,700 shares of Mueller Water Products stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $9.55, for a total value of $63,985.00. Following the completion of the sale, the director now owns 52,892 shares of the company’s stock, valued at approximately $505,118.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bernard G. Rethore acquired 10,000 shares of Mueller Water Products stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $9.19 per share, with a total value of $91,900.00. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MWA. CWM Advisors LLC bought a new position in Mueller Water Products in the 4th quarter worth $92,000. Belpointe Asset Management LLC bought a new position in Mueller Water Products in the 1st quarter worth $102,000. Paloma Partners Management Co bought a new position in Mueller Water Products in the 4th quarter worth $103,000. Blueshift Asset Management LLC bought a new position in Mueller Water Products in the 4th quarter worth $124,000. Finally, Stone Ridge Asset Management LLC bought a new position in Mueller Water Products in the 4th quarter worth $130,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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