In a report released today, Ryan Connors from Boenning & Scattergood reiterated a Buy rating on Aqua America (WTR), with a price target of $43. The company’s shares closed yesterday at $33.88.
Connors commented:
“We reiterate our Outperform rating, with our $43 target based on our regulatory valuation system, which grants WTR a premium for its concentrated exposure to #1 ranked Pennsylvania (for details on our valuation methodology, see our state regulatory rankings report dated 10/8/2018).”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 5.0% and a 57.7% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.
Aqua America has an analyst consensus of Moderate Buy, with a price target consensus of $38.25.
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The company has a one-year high of $38.24 and a one-year low of $32.09. Currently, Aqua America has an average volume of 784.2K.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WTR in relation to earlier this year.
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Aqua America, Inc. is a holding company, which engages in the provision of water and wastewater services. It supports a range of customers across Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia.
