Babcock (NYSE:BW) Now Covered by Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC initiated coverage on shares of Babcock (NYSE:BW) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $20.00 price target on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 180.11% from the stock’s current price.

Other research analysts have also issued research reports about the company. Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Babcock currently has an average rating of “Hold” and an average price target of $15.40.

Babcock Stock Performance

NYSE:BW opened at $7.14 on Monday. The company has a 50 day simple moving average of $10.52 and a two-hundred day simple moving average of $13.53. Babcock has a fifty-two week low of $1.97 and a fifty-two week high of $22.03. The company has a market capitalization of $1.06 billion, a PE ratio of -39.66 and a beta of 1.22. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The business had revenue of $319.69 million during the quarter, compared to analyst estimates of $196.95 million. Research analysts anticipate that Babcock will post 0.27 earnings per share for the current year.

Insider Activity at Babcock

In related news, Director Philip D. Moeller bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares in the company, valued at approximately $2,287,685.50. This represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Babcock by 57.3% during the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Babcock in the fourth quarter worth about $25,000. Huntington National Bank boosted its holdings in shares of Babcock by 400,000.0% in the 4th 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 raised its stake in shares of Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after buying an additional 4,936 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in Babcock during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.