Fri Sep 20 13:33:10 UTC 2024: ## American Water Works (AWK) Stock Rating Remains “Underperform” as Bank of America Maintains Cautious Stance
**New York, NY** – American Water Works (NYSE:AWK), a leading provider of water and wastewater services in the US, saw its stock rating reaffirmed as “Underperform” by analysts at Bank of America on Friday. The investment bank also set a price target of $140.00 for the stock, representing a potential downside of 6.12% from its last closing price.
This comes amidst a mixed outlook from other analysts. Wolfe Research upgraded AWK to a “Hold” rating while Wells Fargo downgraded the stock to “Underweight,” though raising its price target to $138.00. Royal Bank of Canada maintained its “Outperform” rating and set a target price of $164.00.
Overall, the stock currently holds an average rating of “Hold” with a consensus price target of $140.29, according to MarketBeat.
American Water Works recently reported earnings for the second quarter, missing analyst expectations for earnings per share but exceeding revenue estimates. The company reported $1.42 EPS against an estimated $1.47, while revenue reached $1.15 billion versus an estimated $1.10 billion.
In related news, Martha Clark Goss, a director of American Water Works, sold 710 shares of the company’s stock on September 3rd at an average price of $142.85. Meanwhile, institutional investors continue to show interest in AWK, with several firms increasing their holdings in the company during recent quarters.
Despite the mixed signals, American Water Works continues to be a significant player in the water and wastewater services sector, serving over 3.5 million active customers across 14 states. The company’s long-term prospects remain tied to the increasing demand for reliable water infrastructure and its ability to navigate the complexities of the industry.
First Piper 