Xylem Inc. (NYSE:XYL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $71.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.04% from the company’s current price.

According to Zacks, “Xylem’s shares have outperformed the industry in three months’ time. The company reported better-than-expected second-quarter 2017 earnings. Recovering energy and mining market conditions, as well as tailwinds within the construction market are anticipated to bolster the company’s results going forward. In addition, increasing demand from major emerging end markets will likely boost near-term top- and bottom-line performance. Also, Xylem intends to boost its competency on the back of increased savings and greater productivity. Moreover, strategic acquisitions would likely strengthen near-term results. Over the last 60 days, the Zacks Consensus Estimate for the stock moved north for both 2017 and 2018.”

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $71.00 price objective (up from $64.00) on shares of Xylem in a research report on Wednesday. Robert W. Baird restated a “hold” rating and issued a $67.00 price objective on shares of Xylem in a research report on Wednesday. Cowen and Company restated a “buy” rating and issued a $70.00 price objective on shares of Xylem in a research report on Thursday, September 21st. Boenning Scattergood restated an “outperform” rating on shares of Xylem in a research report on Tuesday, September 5th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $63.00 price objective on shares of Xylem in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.46.

Shares of Xylem (NYSE XYL) opened at 64.545 on Thursday. The stock’s 50 day moving average is $62.23 and its 200-day moving average is $55.62. The company has a market cap of $11.59 billion, a P/E ratio of 41.669 and a beta of 1.17. Xylem has a one year low of $45.60 and a one year high of $64.80.

Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Xylem had a net margin of 6.58% and a return on equity of 17.26%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $0.48 earnings per share. Xylem’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts forecast that Xylem will post $2.37 earnings per share for the current year.

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In other Xylem news, insider Kenneth Napolitano sold 9,052 shares of Xylem stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total transaction of $544,568.32. Following the completion of the sale, the insider now directly owns 35,303 shares in the company, valued at $2,123,828.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. CT Financial Advisors lifted its holdings in shares of Xylem by 18.8% in the 4th quarter. CT Financial Advisors now owns 1,266 shares of the industrial products company’s stock worth $46,209 after acquiring an additional 200 shares during the last quarter. Asset Planning Services Ltd. lifted its holdings in shares of Xylem by 2,000.0% in the 4th quarter. Asset Planning Services Ltd. now owns 2,100 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 2,000 shares during the last quarter. Mizuho Asset Management Co. Ltd. lifted its holdings in shares of Xylem by 122.1% in the 2nd quarter. Mizuho Asset Management Co. Ltd. now owns 2,323 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 1,277 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of Xylem by 96.1% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,345 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Cribstone Capital Management LLC lifted its holdings in shares of Xylem by 1,214.6% in the 1st quarter. Cribstone Capital Management LLC now owns 2,432 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 2,247 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

Xylem Company Profile

Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.

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Analyst Recommendations for Xylem (NYSE:XYL)

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