American States Water (NYSE:AWR) Lowered to Underperform Rating by Bank of America

American States Water (NYSE:AWR) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $71.00 price objective on the utilities provider’s stock, down from their previous price objective of $85.00. Bank of America‘s price target suggests a potential downside of 4.81% from the stock’s current price.

A number of other research firms have also recently issued reports on AWR. StockNews.com cut shares of American States Water from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered American States Water from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $84.00 to $77.00 in a report on Tuesday, January 7th.

American States Water Trading Up 1.1 %

Shares of AWR stock opened at $74.59 on Monday. American States Water has a fifty-two week low of $66.03 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.64 and a current ratio of 0.69. The stock has a 50 day simple moving average of $78.18 and a two-hundred day simple moving average of $81.24. The company has a market cap of $2.79 billion, a P/E ratio of 25.11, a PEG ratio of 12.06 and a beta of 0.53.

American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). The company had revenue of $161.78 million during the quarter, compared to the consensus estimate of $161.00 million. American States Water had a net margin of 19.26% and a return on equity of 13.53%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. Research analysts forecast that American States Water will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in American States Water during the fourth quarter worth $30,000. Blue Trust Inc. raised its holdings in American States Water by 367.3% during the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider’s stock worth $42,000 after buying an additional 393 shares during the last quarter. Assetmark Inc. acquired a new position in American States Water during the third quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in American States Water by 18,820.0% during the third quarter. Farther Finance Advisors LLC now owns 946 shares of the utilities provider’s stock worth $79,000 after buying an additional 941 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in American States Water by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,262 shares of the utilities provider’s stock worth $91,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American States Water Company Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.