Mueller Water Products (MWA) Stock Rating Reaffirmed by Boenning Scattergood

Mueller Water Products (NYSE:MWA)‘s stock had its “buy” rating reiterated by investment analysts at Boenning Scattergood in a report released on Thursday. They currently have a $14.00 target price on the industrial products company’s stock. Boenning Scattergood’s target price indicates a potential upside of 16.28% from the stock’s current price.

The analysts wrote, “We rate MWA Outperform, with our $14 target reflecting a water infrastructure peer group average forward P/E of 25 times.””

A number of other brokerages also recently commented on MWA. Robert W. Baird reiterated a “hold” rating and issued a $14.00 target price on shares of Mueller Water Products in a report on Wednesday, October 4th. BidaskClub downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Royal Bank Of Canada restated a “buy” rating and set a $14.00 price objective on shares of Mueller Water Products in a report on Wednesday, October 11th. Cowen and Company restated a “hold” rating and set a $12.00 price objective on shares of Mueller Water Products in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.75.

Shares of Mueller Water Products (NYSE MWA) traded up $0.07 during trading on Thursday, reaching $12.04. 2,509,526 shares of the company’s stock were exchanged, compared to its average volume of 815,952. The firm has a market capitalization of $1,909.40, a P/E ratio of 28.00, a P/E/G ratio of 1.79 and a beta of 1.32. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.90 and a quick ratio of 4.63.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $226.90 million during the quarter, compared to the consensus estimate of $227.14 million. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.83%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. sell-side analysts forecast that Mueller Water Products will post 0.53 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new position in shares of Mueller Water Products during the first quarter valued at about $133,000. Colony Group LLC purchased a new stake in Mueller Water Products in the second quarter valued at approximately $135,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Mueller Water Products in the second quarter valued at approximately $140,000. HighTower Advisors LLC purchased a new stake in Mueller Water Products in the first quarter valued at approximately $143,000. Finally, Teacher Retirement System of Texas boosted its position in Mueller Water Products by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 13,074 shares of the industrial products company’s stock valued at $153,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 84.66% of the company’s stock.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.

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