Zacks Investment Research Downgrades American States Water (AWR) to Hold

Zacks Investment Research lowered shares of American States Water (NYSE:AWR) from a buy rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Shares of American States Water have outperformed the industry in the last 12 months.  The company’s strength lies in an expanding customer base, extensive water rights and strong credit ratings. Further, it makes systematic investments to strengthen the existing infrastructure. In addition, new water rates will help boost its margins. American States Water’s main drawback is its heavy dependence on a single state, California, for majority of its earnings. Plus, the company’s highly-regulated operations and risk of water contamination leading to an increase in operating costs could adversely impact its results. “

Separately, Wells Fargo & Co lowered American States Water from a market perform rating to an underperform rating and set a $48.00 price target on the stock. in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. American States Water has an average rating of Hold and an average price target of $50.67.

Shares of American States Water (NYSE:AWR) traded down $0.38 during trading on Monday, hitting $54.84. The stock had a trading volume of 153,295 shares, compared to its average volume of 202,128. The firm has a market capitalization of $2,010.00, a price-to-earnings ratio of 29.97, a PEG ratio of 7.78 and a beta of 0.48. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. American States Water has a 12 month low of $41.14 and a 12 month high of $58.44.

American States Water (NYSE:AWR) last announced its earnings results on Monday, November 6th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $124.40 million for the quarter, compared to analyst estimates of $145.78 million. American States Water had a return on equity of 13.34% and a net margin of 15.28%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. equities analysts anticipate that American States Water will post 1.72 earnings per share for the current fiscal year.

In other American States Water news, Director Diana M. Bonta sold 1,675 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $57.42, for a total value of $96,178.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Denise L. Kruger sold 1,250 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.88, for a total value of $67,350.00. Following the completion of the transaction, the insider now directly owns 8,216 shares in the company, valued at $442,678.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,025 shares of company stock worth $279,898. Insiders own 1.49% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC increased its position in American States Water by 85.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 1,196 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in American States Water in the 2nd quarter worth about $127,000. Cetera Advisor Networks LLC acquired a new position in American States Water in the 3rd quarter worth about $201,000. Meeder Asset Management Inc. increased its position in American States Water by 328.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,208 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 3,226 shares during the last quarter. Finally, Advisor Group Inc. increased its position in American States Water by 16.3% in the 2nd quarter. Advisor Group Inc. now owns 4,339 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 609 shares during the last quarter. 64.98% of the stock is currently owned by institutional investors.

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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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