Xylem (XYL) Downgraded by Zacks Investment Research

Xylem (NYSE:XYL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Over the last three months, Xylem’s shares have outperformed the industry. The company reported robust fourth-quarter 2017 results. Xylem believes improving wastewater transport, dewatering, gas, software & services and analytics business will continue to bolster its revenues in the quarters ahead. Moreover, the company noted that addition of Pure Technologies and EmNet will enhance its near-term competency. Profitability in the upcoming quarters is anticipated to improve on the back of stronger top-line growth and ongoing productivity initiatives. However, over the last three months, Xylem’s shares have looks overvalued compared to the industry. Challenging oil and gas market conditions might hurt the Xylem’s results in the quarters ahead. Moreover, a sudden supply chain issue might also prove fatal going forward. Over the last 30 days, Zacks Consensus Estimate for the stock remained unchanged for both 2018 and 2019.”

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A number of other brokerages also recently weighed in on XYL. Oppenheimer boosted their price target on shares of Xylem to $82.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. BMO Capital Markets reissued a “buy” rating and issued a $86.00 price target on shares of Xylem in a report on Friday, February 2nd. Seaport Global Securities reissued a “buy” rating and issued a $83.00 price target on shares of Xylem in a report on Friday, February 2nd. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of Xylem in a report on Tuesday, March 6th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $75.00 price target on shares of Xylem in a report on Sunday, January 28th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Xylem has a consensus rating of “Buy” and an average target price of $74.00.

Shares of NYSE:XYL traded up $1.33 during midday trading on Monday, reaching $76.73. The company had a trading volume of 270,734 shares, compared to its average volume of 1,022,987. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.41 and a current ratio of 1.88. The company has a market capitalization of $13,563.93, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. Xylem has a 52-week low of $48.81 and a 52-week high of $79.83.

Xylem (NYSE:XYL) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.76 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Xylem had a net margin of 7.03% and a return on equity of 17.95%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. research analysts predict that Xylem will post 2.92 earnings per share for the current year.

In related news, insider Tomas Brannemo sold 1,151 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $76.41, for a total value of $87,947.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Curtis J. Crawford sold 7,948 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.77, for a total value of $570,427.96. Following the completion of the sale, the director now owns 55,245 shares in the company, valued at $3,964,933.65. The disclosure for this sale can be found here. Insiders sold a total of 21,105 shares of company stock worth $1,540,907 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. increased its position in shares of Xylem by 0.9% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 197,184 shares of the industrial products company’s stock valued at $12,349,000 after buying an additional 1,670 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Xylem during the third quarter valued at about $254,000. Patten Group Inc. increased its position in shares of Xylem by 295.6% during the third quarter. Patten Group Inc. now owns 127,490 shares of the industrial products company’s stock valued at $2,009,000 after buying an additional 95,259 shares during the period. Stone Ridge Asset Management LLC bought a new stake in shares of Xylem during the fourth quarter valued at about $795,000. Finally, Mackenzie Financial Corp increased its position in shares of Xylem by 189.1% during the fourth quarter. Mackenzie Financial Corp now owns 27,649 shares of the industrial products company’s stock valued at $1,886,000 after buying an additional 18,084 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

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Xylem Company Profile

Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.

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Analyst Recommendations for Xylem (NYSE:XYL)

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