American States Water Company (AWR) Sets New 1-Year High After Analyst Upgrade

American States Water Company (NYSE:AWR) shares hit a new 52-week high during trading on Wednesday after Wells Fargo & raised their price target on the stock from $46.00 to $48.00. Wells Fargo & currently has a market perform rating on the stock. American States Water traded as high as $51.98 and last traded at $51.88, with a volume of 54,351 shares traded. The stock had previously closed at $51.11.

AWR has been the subject of a number of other research reports. BidaskClub lowered American States Water from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of American States Water from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, US Capital Advisors reiterated a “hold” rating on shares of American States Water in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.67.

In other American States Water news, insider Denise L. Kruger sold 1,250 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.61, for a total value of $62,012.50. Following the completion of the sale, the insider now owns 9,466 shares in the company, valued at $469,608.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Sprowls sold 5,614 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $51.00, for a total value of $286,314.00. Following the completion of the sale, the chief executive officer now owns 111,346 shares of the company’s stock, valued at approximately $5,678,646. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,005 shares of company stock worth $1,541,035. Company insiders own 1.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in AWR. Pinebridge Investments L.P. raised its stake in American States Water by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,824 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 51 shares during the period. Eqis Capital Management Inc. increased its holdings in American States Water by 0.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 13,442 shares of the utilities provider’s stock valued at $637,000 after acquiring an additional 93 shares during the last quarter. IFP Advisors Inc increased its holdings in American States Water by 1.9% in the 2nd quarter. IFP Advisors Inc now owns 5,548 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 101 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in American States Water by 0.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,165 shares of the utilities provider’s stock valued at $672,000 after acquiring an additional 139 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in American States Water by 3.1% in the 2nd quarter. Amalgamated Bank now owns 5,022 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 65.47% of the company’s stock.

The company has a 50 day moving average of $49.86 and a 200 day moving average of $47.43. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 27.92 and a beta of 0.45.

American States Water (NYSE:AWR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.45 by $0.17. American States Water had a return on equity of 13.70% and a net margin of 15.44%. The company had revenue of $113.20 million for the quarter, compared to analyst estimates of $119.23 million. During the same period last year, the company earned $0.45 earnings per share. American States Water’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that American States Water Company will post $1.70 earnings per share for the current year.

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American States Water Company Profile

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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