Babcock (NYSE:BW) Stock Has Consensus Price Target of $15.40

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

BW has been the subject of a number of research reports. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Needham & Company LLC began coverage on Babcock in a research note on Monday, August 31st. They set a “buy” rating and a $20.00 price objective on the stock.

Insider Buying and Selling

In related news, Director Philip Moeller purchased 5,000 shares of Babcock stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Babcock

Several large investors have recently added to or reduced their stakes in BW. Arrowstreet Capital Limited Partnership lifted its stake in shares of Babcock by 777.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company’s stock worth $43,693,000 after buying an additional 2,635,304 shares during the last quarter. Situational Awareness LP lifted its position in shares of Babcock by 49.7% during the 2nd quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock worth $28,587,000 after purchasing an additional 673,551 shares during the last quarter. Wellington Management Group LLP bought a new stake in Babcock during the 2nd quarter valued at approximately $18,260,000. Bank of America Corp DE boosted its stake in Babcock by 1,743.7% during the 1st quarter. Bank of America Corp DE now owns 1,096,502 shares of the technology company’s stock valued at $16,108,000 after purchasing an additional 1,037,028 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new position in Babcock in the 1st quarter worth approximately $15,205,000. 83.17% of the stock is owned by institutional investors and hedge funds.

Babcock Stock Down 6.4%

Shares of NYSE BW opened at $4.27 on Friday. The business has a 50-day moving average price of $6.14 and a 200 day moving average price of $11.43. The stock has a market cap of $636.06 million, a PE ratio of -23.72 and a beta of 1.17. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. Babcock has a 52-week low of $3.39 and a 52-week high of $22.03.

Babcock (NYSE:BW) last issued its quarterly 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 business had revenue of $319.72 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%. Equities research analysts forecast that Babcock will post 0.27 earnings per share for the current year.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc is an energy and environmental technology company that provides equipment, systems and services for power generation, industrial operations and waste management. Its offerings include steam-generating technologies, boilers, emissions-control systems, construction and maintenance services, and related engineering support.

The company also develops technologies for renewable energy and waste conversion, including solutions designed to transform waste and biomass into useful heat and power.