Piper Sandler Issues Positive Forecast for Select Water Solutions (NYSE:WTTR) Stock Price

Select Water Solutions (NYSE:WTTR) had its target price hoisted by research analysts at Piper Sandler from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 16.03% from the company’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Wall Street Zen raised Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Thursday, February 19th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $16.00 price objective on shares of Select Water Solutions in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.00.

Select Water Solutions Stock Performance

NYSE WTTR traded up $0.02 during trading hours on Thursday, hitting $13.79. The company’s stock had a trading volume of 574,764 shares, compared to its average volume of 1,281,000. The company’s 50 day simple moving average is $11.89 and its two-hundred day simple moving average is $10.71. Select Water Solutions has a 12 month low of $7.20 and a 12 month high of $15.45. The company has a market cap of $1.67 billion, a P/E ratio of 65.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.57 and a quick ratio of 1.42.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21). The business had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. As a group, sell-side analysts expect that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the sale, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at $3,247,636.29. The trade was a 11.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 332,250 shares of company stock worth $3,803,896 over the last ninety days. 8.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WTTR. Deprince Race & Zollo Inc. lifted its stake in Select Water Solutions by 1,334.5% in the third quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after acquiring an additional 3,520,091 shares during the last quarter. Villanova Investment Management Co LLC grew its stake in shares of Select Water Solutions by 181.8% during the second quarter. Villanova Investment Management Co LLC now owns 217,519 shares of the company’s stock worth $1,879,000 after purchasing an additional 140,328 shares in the last quarter. American Century Companies Inc. increased its holdings in Select Water Solutions by 4.0% in the second quarter. American Century Companies Inc. now owns 3,660,705 shares of the company’s stock valued at $31,628,000 after buying an additional 142,449 shares during the last quarter. CenterBook Partners LP raised its stake in Select Water Solutions by 504.8% in the second quarter. CenterBook Partners LP now owns 959,272 shares of the company’s stock valued at $8,288,000 after buying an additional 800,656 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Select Water Solutions in the second quarter valued at $3,194,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.