Aris Water Solutions (NYSE:ARIS) Price Target Raised to $30.00 at The Goldman Sachs Group

Aris Water Solutions (NYSE:ARIS) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $21.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 26.42% from the stock’s current price.

A number of other brokerages have also issued reports on ARIS. Stifel Nicolaus boosted their target price on Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday. US Capital Advisors lowered shares of Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. downgraded Aris Water Solutions from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $22.00 in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Aris Water Solutions from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Evercore ISI upped their price target on Aris Water Solutions from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Aris Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Aris Water Solutions Price Performance

NYSE ARIS traded up $0.40 during mid-day trading on Thursday, hitting $23.73. The stock had a trading volume of 92,705 shares, compared to its average volume of 363,016. Aris Water Solutions has a twelve month low of $7.74 and a twelve month high of $27.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. The firm’s 50 day moving average is $22.05 and its 200 day moving average is $18.09. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 29.66 and a beta of 1.91.

Insider Activity

In related news, major shareholder S Corp Gable sold 57,731 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $25.55, for a total transaction of $1,475,027.05. Following the sale, the insider now owns 3,165,939 shares in the company, valued at approximately $80,889,741.45. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Debra Coy sold 1,500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.39, for a total value of $38,085.00. Following the completion of the transaction, the director now owns 42,082 shares of the company’s stock, valued at $1,068,461.98. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in Aris Water Solutions by 140.3% during the 2nd quarter. American Century Companies Inc. now owns 487,840 shares of the company’s stock worth $7,644,000 after acquiring an additional 284,788 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Aris Water Solutions during the third quarter valued at approximately $2,080,000. Exchange Traded Concepts LLC boosted its stake in shares of Aris Water Solutions by 988.8% in the third quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock valued at $2,327,000 after purchasing an additional 125,281 shares during the period. Martingale Asset Management L P grew its holdings in Aris Water Solutions by 81.0% during the 3rd quarter. Martingale Asset Management L P now owns 60,582 shares of the company’s stock valued at $1,022,000 after purchasing an additional 27,109 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Aris Water Solutions during the 2nd quarter worth $765,000. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

About Aris Water Solutions

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.