Babcock (NYSE:BW) Reaches New 12-Month High – What’s Next?

Babcock (NYSE:BW)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $8.94 and last traded at $8.94, with a volume of 1084509 shares changing hands. The stock had previously closed at $8.23.

Analysts Set New Price Targets

Several research firms recently commented on BW. Northland Securities began coverage on shares of Babcock in a research note on Thursday. They set an “outperform” rating and a $10.00 target price for the company. Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, November 5th. Lake Street Capital reissued a “buy” rating and set a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. DA Davidson boosted their target price on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Babcock Stock Up 6.7%

The firm has a market cap of $975.46 million, a price-to-earnings ratio of -6.75 and a beta of 1.43. The company has a 50-day moving average price of $6.40 and a 200 day moving average price of $3.87.

Babcock (NYSE:BW) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in shares of Babcock during the 3rd quarter valued at $14,086,000. Vanguard Group Inc. increased its stake in shares of Babcock by 54.3% in the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 1,556,692 shares during the last quarter. Gendell Jeffrey L raised its holdings in shares of Babcock by 49.2% during the second quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after acquiring an additional 849,602 shares in the last quarter. Marshall Wace LLP boosted its position in Babcock by 497.7% during the third quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock valued at $6,863,000 after purchasing an additional 1,970,656 shares during the last quarter. Finally, Thames Capital Management LLC purchased a new position in Babcock in the third quarter valued at about $4,033,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.