Cowen & Co. Downgrades Mueller Water Products to Market Perform with Price Target $13

Brokerage firm Cowen & Co. Downgrades its rating on Mueller Water Products(MWA). As per the latest information, Cowen & Co. Lowers the price target to $13 per share from a prior target of $15. The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Cowen & Co. was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, Goldman Sachs said it Initiates Coverage On Mueller Water Products, according to a research note issued on Mar 8, 2017. In the research note, the firm Announces the price-target to $15 per share. The shares have been rated ‘Buy’ by the firm.

Mueller Water Products (MWA) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.17% at a volume of 24,12,601. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.22. The peak price level was also seen at $12.22 while the days lowest was $12.01. Finally the shares closed at $12.08. The 52-week high of the shares is $14.2 while the 52-week low is $9.08. According to the latest information available, the market cap of the company is $1,960 M.

Mueller Water Products(MWA) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2017 and Q1.Company reported revenue of $167.200M. Analysts had an estimated revenue of $181.360M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.05.

Several Insider Transactions has been reported to the SEC. On Feb 7, 2017, Jerry W Kolb (director) sold 34,341 shares at $12.98 per share price.Also, On Feb 7, 2017, Gregory E Hyland (director) sold 1,000,000 shares at $12.49 per share price.On Feb 6, 2017, Evan Hart (SVP and CFO) sold 150,000 shares at $13.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Mueller Water Products Inc. is a manufacturer and marketer of products and services used in the transmission distribution and measurement of water. The Company’s product portfolio includes engineered valves fire hydrants metering products and systems leak detection and pipe condition assessment which are used by municipalities and residential and non-residential construction industries. The Company operates through two segments: Mueller Co. and Anvil. The Company helps municipalities increase operational efficiencies improve customer service and prioritize capital spending. Mueller Co. manufactures valves for water and gas systems including iron gate butterfly tapping check plug and ball valves dry-barrel and wet-barrel fire hydrants and metering systems. The Company also manufactures fittings and couplings including cast iron fittings malleable iron fittings and unions grooved fittings threaded steel pipe coupling and nipples.

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