In a report released yesterday, Bryan Blair from Oppenheimer reiterated a Buy rating on Mueller Water Products (MWA), with a price target of $12.50. The company’s shares closed yesterday at $10.38.
Blair commented:
“We believe MWA remains positioned for +MSD sales and +DD EPS growth intermediate term, supported by solid muni demand (driving >60% of revenue), increasing contributions from its strategic Krausz acquisition, established core pricing power (favorable price/cost trends), and recently enhanced CI initiatives. While F2Q was marked by difficult weather (likely impacting shipment volumes) and a tragic incident at a specialty valve facility, we view underlying fundamentals as solid and would recommend buying into any near-term pressure on shares. All in, we continue to believe MWA’s valuation (on FY19E, ~9x EV/EBITDA) offers the core Infrastructure business at a compelling price with zero (potentially negative) value ascribed to Technologies assets. Maintain Outperform.”
According to TipRanks.com, Blair is a 3-star analyst with an average return of 5.7% and a 62.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Lincoln Electric Holdings, and Watts Water Technologies.
Currently, the analyst consensus on Mueller Water Products is a Moderate Buy with an average price target of $11.75.
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Mueller Water Products’ market cap is currently $1.64B and has a P/E ratio of 56.44. The company has a Price to Book ratio of 3.05.
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Mueller Water Products, Inc. engages in the manufacture and sale of products used in the transmission, distribution and measurement of water. It operates though the following segments: Infrastructure, and Technologies.
