BrightView (NYSE:BV) Price Target Raised to $13.00

BrightView (NYSE:BV) had its target price increased by JPMorgan Chase & Co. from $12.00 to $13.00 in a research note released on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts also recently issued reports on the company. BTIG Research began coverage on BrightView in a report on Monday, December 1st. They set a “buy” rating and a $15.00 price objective for the company. The Goldman Sachs Group decreased their price target on shares of BrightView from $13.50 to $10.50 and set a “sell” rating for the company in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of BrightView in a report on Wednesday, January 21st. Zacks Research upgraded shares of BrightView from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley raised their target price on shares of BrightView from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.42.

BrightView Stock Up 4.8%

Shares of BV stock opened at $13.54 on Thursday. BrightView has a 12-month low of $11.06 and a 12-month high of $17.10. The company has a quick ratio of 1.30, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $12.96 and a 200-day moving average of $13.44. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -677.20 and a beta of 1.28.

BrightView (NYSE:BV) last announced its earnings results on Tuesday, February 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). BrightView had a return on equity of 7.85% and a net margin of 1.90%.The company had revenue of $614.70 million during the quarter, compared to analyst estimates of $589.91 million. During the same period in the previous year, the company posted $0.04 earnings per share. BrightView’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that BrightView will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other BrightView news, Director William L. Cornog purchased 10,000 shares of BrightView stock in a transaction that occurred on Tuesday, December 2nd. The stock was acquired at an average price of $12.84 per share, for a total transaction of $128,400.00. Following the completion of the acquisition, the director owned 30,000 shares of the company’s stock, valued at approximately $385,200. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Mark Gottsegen sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the transaction, the executive vice president directly owned 142,958 shares in the company, valued at approximately $1,804,129.96. This trade represents a 19.67% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by insiders.

Institutional Trading of BrightView

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of BrightView by 54.2% during the 2nd quarter. IFP Advisors Inc now owns 2,385 shares of the company’s stock worth $40,000 after acquiring an additional 838 shares during the last quarter. Bfsg LLC acquired a new position in shares of BrightView in the fourth quarter valued at $49,000. State of Alaska Department of Revenue acquired a new position in shares of BrightView in the third quarter valued at $85,000. BNP Paribas Financial Markets raised its position in shares of BrightView by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock valued at $93,000 after purchasing an additional 2,240 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of BrightView by 225.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock worth $94,000 after buying an additional 3,909 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

About BrightView

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.