Evoqua Water Technologies (AQUA) Price Target Cut to $18.00

Evoqua Water Technologies (NYSE:AQUA) had its target price reduced by equities research analysts at Raymond James from $26.00 to $18.00 in a report released on Wednesday. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ target price suggests a potential upside of 92.31% from the company’s current price.

A number of other research analysts also recently issued reports on AQUA. Berenberg Bank assumed coverage on Evoqua Water Technologies in a report on Wednesday, October 3rd. They set a “hold” rating and a $19.00 price target on the stock. Citigroup set a $14.00 price target on Evoqua Water Technologies and gave the company a “buy” rating in a report on Wednesday. Finally, Cowen downgraded Evoqua Water Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $21.89.

AQUA stock traded up $0.34 during mid-day trading on Wednesday, hitting $9.36. 2,418,126 shares of the stock were exchanged, compared to its average volume of 758,469. Evoqua Water Technologies has a 12 month low of $8.60 and a 12 month high of $25.36.

Evoqua Water Technologies (NYSE:AQUA) last released its earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Evoqua Water Technologies had a negative return on equity of 5.33% and a negative net margin of 1.01%. The company had revenue of $342.48 million during the quarter, compared to analyst estimates of $342.99 million.

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new position in shares of Evoqua Water Technologies during the 2nd quarter worth approximately $236,000. Teacher Retirement System of Texas purchased a new stake in shares of Evoqua Water Technologies in the 2nd quarter worth approximately $237,000. Royal Bank of Canada grew its stake in shares of Evoqua Water Technologies by 505.6% in the 1st quarter. Royal Bank of Canada now owns 11,997 shares of the company’s stock worth $255,000 after buying an additional 10,016 shares during the last quarter. Barclays PLC grew its stake in shares of Evoqua Water Technologies by 79.9% in the 1st quarter. Barclays PLC now owns 13,653 shares of the company’s stock worth $291,000 after buying an additional 6,062 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Evoqua Water Technologies by 58.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 16,209 shares of the company’s stock worth $345,000 after buying an additional 5,976 shares during the last quarter.

About Evoqua Water Technologies

Evoqua Water Technologies Corp. provides a range of water and wastewater treatment systems and technologies, and mobile and emergency water supply solutions and services. It operates through three segments: Industrial, Municipal, and Products. The Industrial segment provides capital systems and related recurring aftermarket services, parts, and consumables for treating industrial process water, utility water, and wastewater.

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Analyst Recommendations for Evoqua Water Technologies (NYSE:AQUA)

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