Babcock (NYSE:BW) Stock Has Average Target Price of $15.40 According to Analysts

Babcock (NYSE:BW) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $15.40.

Several research firms have recently issued reports on BW. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC assumed coverage on Babcock in a research report on Monday, August 31st. They set a “buy” rating and a $20.00 price target for the company.

Babcock Price Performance

BW stock opened at $5.79 on Tuesday. The firm has a 50 day moving average of $7.97 and a 200-day moving average of $12.93. Babcock has a 12-month low of $2.71 and a 12-month high of $22.03. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 4.21. The company has a market cap of $861.88 million, a price-to-earnings ratio of -32.14 and a beta of 1.18.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The business had revenue of $319.72 million for the quarter, compared to analysts’ expectations of $196.95 million. As a group, equities analysts expect that Babcock will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Philip Moeller acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $9.50 per share, with a total value of $47,500.00. Following the completion of the purchase, the director directly owned 240,809 shares in the company, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP grew its holdings in shares of Babcock by 116.1% during the second quarter. Engineers Gate Manager LP now owns 53,109 shares of the technology company’s stock worth $749,000 after buying an additional 28,528 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Babcock during the second quarter valued at approximately $25,000. Arizona State Retirement System purchased a new position in shares of Babcock during the second quarter valued at approximately $428,000. Readystate Asset Management LP acquired a new stake in Babcock during the second quarter worth approximately $1,900,000. Finally, Situational Awareness LP boosted its position in Babcock by 49.7% during the second quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock worth $28,587,000 after acquiring an additional 673,551 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides equipment, technologies and services for power generation and industrial applications. The company serves utilities, industrial operators and other customers seeking to generate energy, improve operating efficiency and reduce emissions.

Its offerings include steam generation systems, boilers, replacement parts, maintenance and engineering services, as well as technologies for controlling air pollution and managing solid waste.