SJW Group (NYSE:SJW) Coverage Initiated by Analysts at Bank of America

Investment analysts at Bank of America assumed coverage on shares of SJW Group (NYSE:SJW) in a research report issued on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $65.00 price target on the utilities provider’s stock. Bank of America‘s price target would suggest a potential upside of 8.39% from the stock’s previous close.

Separately, Wells Fargo & Company upped their target price on SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, SJW Group presently has a consensus rating of “Hold” and a consensus price target of $62.67.

SJW Group Trading Down 0.2 %

SJW stock opened at $59.97 on Friday. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.49 and a current ratio of 0.49. The company’s 50-day simple moving average is $59.19 and its 200 day simple moving average is $56.51. The company has a market capitalization of $1.96 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.63.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.57 by $0.09. The company had revenue of $176.17 million for the quarter, compared to analysts’ expectations of $165.10 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. As a group, sell-side analysts anticipate that SJW Group will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SJW Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SJW. Cubist Systematic Strategies LLC grew its stake in shares of SJW Group by 445.4% during the second quarter. Cubist Systematic Strategies LLC now owns 45,946 shares of the utilities provider’s stock worth $2,491,000 after buying an additional 37,521 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 761 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in SJW Group in the 2nd quarter worth about $277,000. Creative Planning raised its position in SJW Group by 9.4% in the second quarter. Creative Planning now owns 11,873 shares of the utilities provider’s stock valued at $644,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of SJW Group by 75.7% during the second quarter. Algert Global LLC now owns 7,116 shares of the utilities provider’s stock valued at $386,000 after purchasing an additional 3,066 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.