Evoqua Water Technologies (NYSE:AQUA) Upgraded at Zacks Investment Research

Evoqua Water Technologies (NYSE:AQUA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $30.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.86% from the stock’s previous close.

According to Zacks, “Evoqua Water Technologies Corp. is a provider of mission critical water treatment solutions. The company offer services, systems and technologies to support customers’ full water lifecycle. Its operating segment consists of Industrial, Municipal and Products. Industrial Segment provides fully-integrated systems and service solutions. Municipal Segment provides engineered solutions and equipment for the treatment of wastewater, purification of drinking water and odor and corrosion control for municipalities. Products Segment sells differentiated technologies to a diverse set of water treatment system specifiers, integrators and end users globally. Evoqua Water Technologies Corp. is based in PITTSBURGH, United States. “

Several other equities research analysts have also recently issued reports on AQUA. Berenberg Bank raised shares of Evoqua Water Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $34.00 in a research report on Monday, March 29th. Robert W. Baird raised shares of Evoqua Water Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $31.00 in a research report on Wednesday, December 16th. Credit Suisse Group raised shares of Evoqua Water Technologies from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Wednesday, March 3rd. TheStreet cut shares of Evoqua Water Technologies from a “b-” rating to a “c” rating in a research report on Tuesday, February 2nd. Finally, Raymond James upped their price target on shares of Evoqua Water Technologies from $33.00 to $35.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $28.00.

Shares of AQUA stock traded up $0.22 during trading hours on Thursday, reaching $27.06. 19,927 shares of the stock were exchanged, compared to its average volume of 1,661,334. Evoqua Water Technologies has a 12-month low of $13.01 and a 12-month high of $31.63. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 1.79. The company’s 50-day moving average price is $25.49 and its 200-day moving average price is $25.48. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 28.79 and a beta of 1.92.

Evoqua Water Technologies (NYSE:AQUA) last released its quarterly earnings results on Monday, February 1st. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Evoqua Water Technologies had a net margin of 7.95% and a return on equity of 16.23%. The firm had revenue of $322.20 million during the quarter, compared to analysts’ expectations of $321.77 million. During the same period in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Evoqua Water Technologies will post 0.56 EPS for the current year.

In related news, CEO Ronald C. Keating sold 400,000 shares of the firm’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $29.58, for a total transaction of $11,832,000.00. Following the completion of the sale, the chief executive officer now directly owns 854,079 shares in the company, valued at $25,263,656.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Benedict J. Stas sold 253,184 shares of the firm’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $29.58, for a total transaction of $7,489,182.72. Following the sale, the chief financial officer now owns 429,994 shares of the company’s stock, valued at $12,719,222.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 745,810 shares of company stock valued at $21,922,024. 4.39% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Thompson Investment Management Inc. purchased a new position in Evoqua Water Technologies in the first quarter worth approximately $657,000. DekaBank Deutsche Girozentrale lifted its stake in Evoqua Water Technologies by 5.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 117,000 shares of the company’s stock worth $3,051,000 after acquiring an additional 6,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Evoqua Water Technologies by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 857,529 shares of the company’s stock worth $23,134,000 after acquiring an additional 7,777 shares during the last quarter. Norges Bank purchased a new position in Evoqua Water Technologies in the fourth quarter worth approximately $31,899,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Evoqua Water Technologies by 1,264.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,385,384 shares of the company’s stock worth $37,378,000 after acquiring an additional 1,283,870 shares during the last quarter. Institutional investors own 73.45% of the company’s stock.

About Evoqua Water Technologies

Evoqua Water Technologies Corp. provides water and wastewater treatment systems and technologies, and mobile and emergency water supply solutions and services for industrial, commercial, and municipal water treatment markets. It operates in two segments, Integrated Solutions and Services, and Applied Product Technologies.

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