American States Water (NYSE:AWR) Cut to Underperform at Bank of America

Bank of America downgraded shares of American States Water (NYSE:AWR) from a neutral rating to an underperform rating in a research note published on Monday, MarketBeat reports. They currently have $71.00 target price on the utilities provider’s stock, down from their previous target price of $85.00.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of American States Water from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Wells Fargo & Company downgraded shares of American States Water from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $84.00 to $77.00 in a research note on Tuesday, January 7th.

American States Water Price Performance

NYSE AWR opened at $73.30 on Monday. The firm’s fifty day simple moving average is $77.44 and its two-hundred day simple moving average is $81.09. The firm has a market capitalization of $2.75 billion, a P/E ratio of 24.68, a P/E/G ratio of 12.06 and a beta of 0.53. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 0.86. American States Water has a 12-month low of $66.03 and a 12-month high of $87.50.

American States Water (NYSE:AWR) last announced its earnings results 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). American States Water had a return on equity of 13.53% and a net margin of 19.26%. The business had revenue of $161.78 million for the quarter, compared to analysts’ expectations of $161.00 million. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that American States Water will post 3.02 EPS for the current fiscal year.

Institutional Trading of American States Water

Hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in American States Water in the fourth quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in shares of American States Water by 367.3% during the 4th quarter. Blue Trust Inc. now owns 500 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 393 shares in the last quarter. Assetmark Inc. acquired a new position in shares of American States Water in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC boosted 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 in the last quarter. Finally, Allworth Financial LP grew its position 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 valued at $91,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About American States Water

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.