American States Water (NYSE:AWR) Downgraded to “Underweight” Rating by Wells Fargo & Company

American States Water (NYSE:AWR) was downgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report issued on Tuesday,Finviz reports. They presently have a $77.00 price objective on the utilities provider’s stock, down from their prior price objective of $84.00. Wells Fargo & Company‘s price target indicates a potential upside of 3.31% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AWR. Bank of America started coverage on shares of American States Water in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $85.00 price target for the company. StockNews.com cut American States Water from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

American States Water Stock Performance

Shares of NYSE AWR opened at $74.53 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.69 and a quick ratio of 0.64. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 6.77 and a beta of 0.53. The stock’s fifty day moving average price is $82.34 and its two-hundred day moving average price is $81.30. American States Water has a one year low of $66.03 and a one year high of $87.50.

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

Institutional Trading of American States Water

Several large investors have recently made changes to their positions in the company. Assetmark Inc. bought a new stake in American States Water during the third quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in shares of American States Water by 18,820.0% during the 3rd 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. Quarry LP bought a new stake in shares of American States Water during the 2nd quarter worth $80,000. KBC Group NV lifted its position in shares of American States Water by 31.9% during the 3rd quarter. KBC Group NV now owns 1,236 shares of the utilities provider’s stock worth $103,000 after buying an additional 299 shares during the last quarter. Finally, CWM LLC boosted its stake in American States Water by 33.3% in the third quarter. CWM LLC now owns 1,393 shares of the utilities provider’s stock valued at $116,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds 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.