Zacks: American States Water Company (AWR) Given Consensus Rating of “Hold” by Analysts

Shares of American States Water Company (NYSE:AWR) have received an average broker rating score of 3.00 (Hold) from the four analysts that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold recommendation.

Brokerages have set a 12 month consensus target price of $42.25 for the company and are forecasting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned American States Water Company an industry rank of 110 out of 265 based on the ratings given to its competitors.

Several research firms have recently issued reports on AWR. Barclays PLC dropped their price objective on shares of American States Water Company from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, March 17th. BidaskClub downgraded shares of American States Water Company from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research downgraded shares of American States Water Company from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th.

American States Water Company (NYSE AWR) opened at 47.53 on Wednesday. American States Water Company has a 52 week low of $37.47 and a 52 week high of $50.86. The company has a 50-day moving average of $46.96 and a 200-day moving average of $44.90. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.14 and a beta of 0.46.

American States Water Company (NYSE:AWR) last issued its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. American States Water Company had a net margin of 14.11% and a return on equity of 12.72%. The firm had revenue of $98.81 million during the quarter, compared to analyst estimates of $95 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Analysts anticipate that American States Water Company will post $1.69 earnings per share for the current year.

In other news, Director Anne M. Holloway sold 5,450 shares of the company’s stock in a transaction on Monday, September 4th. The shares were sold at an average price of $36.95, for a total value of $201,377.50. Following the completion of the transaction, the director now directly owns 48,963 shares in the company, valued at $1,809,182.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd E. Ross sold 600 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $47.83, for a total transaction of $28,698.00. Following the completion of the transaction, the director now owns 51,619 shares of the company’s stock, valued at $2,468,936.77. The disclosure for this sale can be found here. Insiders sold 41,597 shares of company stock valued at $1,921,310 over the last 90 days. Insiders own 1.43% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AWR. BlackRock Inc. increased its position in shares of American States Water Company by 9,491.3% in the first quarter. BlackRock Inc. now owns 4,590,223 shares of the utilities provider’s stock valued at $203,346,000 after buying an additional 4,542,365 shares during the period. OppenheimerFunds Inc. increased its position in American States Water Company by 6,094.1% in the first quarter. OppenheimerFunds Inc. now owns 381,061 shares of the utilities provider’s stock worth $16,880,000 after buying an additional 374,909 shares during the period. Vanguard Group Inc. increased its position in American States Water Company by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,694,087 shares of the utilities provider’s stock worth $163,649,000 after buying an additional 201,727 shares during the period. Norges Bank bought a new position in American States Water Company during the fourth quarter worth approximately $8,671,000. Finally, Parametric Portfolio Associates LLC increased its position in American States Water Company by 146.5% in the first quarter. Parametric Portfolio Associates LLC now owns 204,526 shares of the utilities provider’s stock worth $9,061,000 after buying an additional 121,560 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

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About American States Water Company

American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).

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