Select Water Solutions (NYSE:WTTR) Rating Lowered to Hold at Wall Street Zen

Select Water Solutions (NYSE:WTTR) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. UBS Group reiterated a “buy” rating and set a $28.00 target price on shares of Select Water Solutions in a report on Wednesday. TD Cowen lowered shares of Select Water Solutions to a “neutral” rating in a report on Friday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Monday, July 6th. Zacks Research downgraded shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Select Water Solutions Price Performance

Shares of Select Water Solutions stock opened at $20.01 on Friday. The business’s fifty day moving average price is $19.95 and its 200 day moving average price is $18.44. Select Water Solutions has a twelve month low of $9.28 and a twelve month high of $22.55. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.77 billion, a P/E ratio of 71.46 and a beta of 1.01.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $395.81 million during the quarter, compared to analyst estimates of $373.33 million. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, research analysts anticipate that Select Water Solutions will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in Select Water Solutions in the 2nd quarter worth approximately $54,000. Nykredit A S acquired a new stake in Select Water Solutions in the second quarter valued at approximately $62,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Select Water Solutions during the first quarter valued at approximately $164,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Select Water Solutions during the first quarter valued at approximately $233,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Select Water Solutions by 14.4% during the first quarter. Pictet Asset Management Holding SA now owns 19,127 shares of the company’s stock valued at $293,000 after purchasing an additional 2,414 shares during the period. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and natural gas industry. Its services support drilling, completions, production and infrastructure operations, with an emphasis on sourcing, transferring, treating, recycling and disposing of water used in energy production.

The company’s offerings include water sourcing and transfer, water recycling and treatment, fluid management, pipeline and infrastructure services, and related logistics.