Mueller Water Products (MWA) Receives a Buy from Oppenheimer

By Carrie Williams

Oppenheimer analyst Bryan Blair assigned a Buy rating to Mueller Water Products (MWAResearch Report) today and set a price target of $11.00. The company’s shares closed last Wednesday at $10.57.

According to TipRanks.com, Blair is a 3-star analyst with an average return of 4.2% and a 53.4% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mueller Water Products with a $10.50 average price target.

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Based on Mueller Water Products’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $258 million and net profit of $23.8 million. In comparison, last year the company earned revenue of $234 million and had a net profit of $10.9 million.

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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. The Infrastructure segment involves in the manufacture of valves for water and gas systems including butterfly, iron gate, tapping, check, knife, plug and ball valves, and dry-barrel and wet-barrel fire hydrants. The Technologies segment offers metering, leak detection, pipe condition assessment, and other products and services for the water infrastructure industry. The company was founded in 1857 and is headquartered in Atlanta, GA.