American States Water Company (AWR) Hits New 1-Year High After Analyst Upgrade
American States Water Company (NYSE:AWR)’s share price reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $51.11.
AWR has been the subject of several other reports. BidaskClub lowered American States Water from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research lowered American States Water from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of American States Water in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $44.50.
In other news, CEO Robert J. Sprowls sold 9,586 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $51.01, for a total value of $488,981.86. Following the completion of the transaction, the chief executive officer now directly owns 111,454 shares of the company’s stock, valued at $5,685,268.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anne M. Holloway sold 5,450 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,809,182.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,005 shares of company stock valued at $1,541,035. 1.49% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of AWR. Riverhead Capital Management LLC lifted its stake in American States Water by 85.4% in the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 1,196 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in American States Water in the second quarter valued at approximately $127,000. Ameritas Investment Partners Inc. purchased a new position in American States Water in the first quarter valued at approximately $140,000. IndexIQ Advisors LLC purchased a new position in American States Water in the second quarter valued at approximately $166,000. Finally, Advisor Group Inc. lifted its stake in American States Water by 16.3% in the second quarter. Advisor Group Inc. now owns 4,339 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 65.47% of the company’s stock.
The company’s 50-day moving average is $49.90 and its 200-day moving average is $47.46. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 27.86 and a beta of 0.45.
American States Water (NYSE:AWR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The business had revenue of $113.20 million during the quarter, compared to the consensus estimate of $119.23 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts expect that American States Water Company will post $1.70 EPS for the current year.
About American States Water
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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