Babcock (NYSE:BW) Receives $11.00 Consensus Target Price from Brokerages

Babcock (NYSE:BW) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.00.

Several research firms have recently issued reports on BW. Craig Hallum reiterated a “buy” rating and set a $19.00 target price on shares of Babcock in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Northland Securities began coverage on shares of Babcock in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price for the company. Finally, Zacks Research upgraded shares of Babcock to a “hold” rating in a report on Friday, January 23rd.

Insider Buying and Selling

In related news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total value of $10,398,438.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth M. Young acquired 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average price of $15.14 per share, with a total value of $105,980.00. Following the completion of the acquisition, the chief executive officer owned 1,656,512 shares in the company, valued at $25,079,591.68. The trade was a 0.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Babcock

A number of hedge funds have recently added to or reduced their stakes in BW. Legal & General Group Plc purchased a new position in Babcock in the 3rd quarter worth approximately $14,086,000. Marshall Wace LLP raised its holdings in Babcock by 497.7% in the 3rd quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock worth $6,863,000 after acquiring an additional 1,970,656 shares during the last quarter. Vanguard Group Inc. raised its holdings in Babcock by 54.3% in the 3rd 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. Thames Capital Management LLC purchased a new position in Babcock in the 3rd quarter worth approximately $4,033,000. Finally, Situational Awareness LP purchased a new position in Babcock in the 4th quarter worth approximately $8,584,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Babcock Stock Performance

Babcock stock opened at $14.54 on Friday. The stock’s 50 day simple moving average is $14.62 and its two-hundred day simple moving average is $9.57. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -26.92 and a beta of 1.08. Babcock has a fifty-two week low of $0.45 and a fifty-two week high of $18.80.

Babcock (NYSE:BW) last released its earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $161.00 million for the quarter, compared to analysts’ expectations of $179.10 million. On average, analysts predict that Babcock will post 0.21 earnings per share for the current year.

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.