Babcock (NYSE:BW) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Babcock (NYSE:BW) from a buy rating to a hold rating in a research note released on Sunday morning.

A number of other research analysts have also weighed in on BW. Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Northland Securities set a $23.00 price objective on Babcock in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Babcock has a consensus rating of “Hold” and an average price target of $14.25.

Babcock Stock Performance

NYSE:BW opened at $8.31 on Friday. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The firm has a market cap of $1.24 billion, a PE ratio of -46.16 and a beta of 1.21. The firm has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $13.60. Babcock has a 1-year low of $1.62 and a 1-year high of $22.03.

Babcock (NYSE:BW) last announced its earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $319.69 million for the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. On average, equities analysts expect that Babcock will post 0.3 EPS for the current year.

Insider Transactions at Babcock

In related news, Director Philip D. Moeller purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $9.50 per share, with a total value of $47,500.00. Following the completion of the transaction, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This trade represents a 2.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Babcock

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Babcock by 57.3% during the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Babcock in the fourth quarter valued at $25,000. Huntington National Bank boosted its holdings in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,000 shares during the last quarter. State of Wyoming grew its position in Babcock by 88.7% during the fourth quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,936 shares during the period. Finally, Centiva Capital LP purchased a new stake in Babcock during the third quarter valued at about $31,000. 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.