Joseph C Giordano, an analyst from TD Cowen, maintained the Hold rating on Mueller Water Products. The associated price target remains the same with $25.00.
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Joseph C Giordano has given his Hold rating due to a combination of factors, including the solid momentum and growth that Mueller Water Products is experiencing as it adjusts to underlying conditions post inventory adjustments at customers. However, there are concerns regarding the housing market, and the company’s response to rate cuts in that sector will be crucial.
While the shares have previously achieved higher multiples, and such valuations are not entirely out of the question based on comparable companies, the current valuation appears largely appropriate. Therefore, Giordano suggests maintaining the current position, reflecting a balanced view of the company’s prospects and market conditions.
In another report released on September 4, RBC Capital also maintained a Hold rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MWA in relation to earlier this year.