Zacks Investment Research cut shares of Babcock & Wilcox Enterprises Inc. (NYSE:BW) from a buy rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Babcock & Wilcox Enterprises, Inc. offers energy technology and services primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. Babcock & Wilcox Enterprises, Inc. is headquartered in Charlotte, N.C. “

Separately, KeyCorp reiterated an outperform rating and set a $22.00 price target on shares of Babcock & Wilcox Enterprises in a research report on Wednesday, August 24th.

Babcock & Wilcox Enterprises (NYSE:BW) traded up 1.18% during midday trading on Tuesday, reaching $16.23. 34,623 shares of the company’s stock traded hands. The firm’s 50-day moving average is $16.51 and its 200-day moving average is $18.63. The company’s market capitalization is $811.21 million. Babcock & Wilcox Enterprises has a 1-year low of $14.27 and a 1-year high of $23.99.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.05. Babcock & Wilcox Enterprises had a negative net margin of 3.04% and a positive return on equity of 5.87%. The company had revenue of $383.20 million for the quarter, compared to analyst estimates of $432.54 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Babcock & Wilcox Enterprises’s revenue was down 12.4% on a year-over-year basis. Analysts forecast that Babcock & Wilcox Enterprises will post $0.73 earnings per share for the current year.

In other news, Director Thomas A. Christopher purchased 2,466 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average price of $16.20 per share, for a total transaction of $39,949.20. Following the completion of the purchase, the director now directly owns 4,426 shares of the company’s stock, valued at $71,701.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jenny L. Apker purchased 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average price of $16.58 per share, with a total value of $198,960.00. Following the purchase, the insider now directly owns 25,227 shares of the company’s stock, valued at $418,263.66. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Babcock & Wilcox Enterprises by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,748,625 shares of the company’s stock valued at $58,820,000 after buying an additional 148,661 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Babcock & Wilcox Enterprises during the first quarter valued at $3,818,000. Aperio Group LLC increased its stake in shares of Babcock & Wilcox Enterprises by 12.4% in the first quarter. Aperio Group LLC now owns 13,548 shares of the company’s stock valued at $290,000 after buying an additional 1,498 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Babcock & Wilcox Enterprises by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 170,973 shares of the company’s stock valued at $3,659,000 after buying an additional 32,438 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Babcock & Wilcox Enterprises by 81.1% in the first quarter. Prudential Financial Inc. now owns 151,934 shares of the company’s stock valued at $3,251,000 after buying an additional 68,030 shares in the last quarter. Institutional investors own 98.19% of the company’s stock.

Babcock & Wilcox Enterprises Company Profile

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Global Power, Global Services and Industrial Environmental.

5 Day Chart for NYSE:BW

Receive News & Stock Ratings for Babcock & Wilcox Enterprises Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Babcock & Wilcox Enterprises Inc. and related stocks with our FREE daily email newsletter.