DA Davidson Increases Babcock (NYSE:BW) Price Target to $6.00

Babcock (NYSE:BW) had its price target hoisted by stock analysts at DA Davidson from $1.50 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective points to a potential downside of 7.55% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Wednesday, November 5th. Lake Street Capital reiterated a “buy” rating and set a $9.00 target price on shares of Babcock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.33.

Babcock Stock Down 7.3%

Shares of NYSE BW opened at $6.49 on Wednesday. Babcock has a 12 month low of $0.22 and a 12 month high of $7.77. The company has a market cap of $721.04 million, a P/E ratio of -3.82 and a beta of 1.91. The business’s 50 day moving average is $3.58 and its two-hundred day moving average is $1.96.

Babcock (NYSE:BW) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $149.00 million during the quarter, compared to analyst estimates of $155.57 million.

Insider Activity

In other news, CEO Kenneth M. Young acquired 20,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $1.51 per share, with a total value of $30,200.00. Following the completion of the purchase, the chief executive officer owned 261,745 shares of the company’s stock, valued at $395,234.95. This represents a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cameron M. Frymyer bought 20,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $1.55 per share, with a total value of $31,000.00. Following the purchase, the chief financial officer directly owned 153,805 shares of the company’s stock, valued at $238,397.75. The trade was a 14.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 65,375 shares of company stock worth $142,604 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

A number of institutional investors and hedge funds have recently bought and sold shares of BW. Acadian Asset Management LLC lifted its position in Babcock by 13.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares in the last quarter. Brightline Capital Management LLC raised its stake in shares of Babcock by 2.6% in the first quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 40,000 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Babcock by 1.3% during the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 22,452 shares in the last quarter. Heartland Advisors Inc. lifted its position in shares of Babcock by 2.7% during the first quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company’s stock worth $949,000 after purchasing an additional 37,500 shares in the last quarter. Finally, Quinn Opportunity Partners LLC grew its stake in shares of Babcock by 200.0% during the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.