Babcock (NYSE:BW) Hits New 1-Year High – Should You Buy?

Babcock (NYSE:BW)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $14.76 and last traded at $14.0180, with a volume of 5117444 shares changing hands. The stock had previously closed at $13.49.

Analyst Ratings Changes

A number of brokerages have issued reports on BW. Zacks Research upgraded Babcock to a “hold” rating in a report on Friday, January 23rd. Northland Securities assumed coverage on Babcock in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. Finally, DA Davidson boosted their price objective on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Babcock has an average rating of “Hold” and an average target price of $8.00.

Babcock Stock Up 3.9%

The stock has a market capitalization of $1.56 billion, a P/E ratio of -25.96 and a beta of 1.54. The company has a fifty day simple moving average of $9.21 and a two-hundred day simple moving average of $6.00.

Babcock (NYSE:BW) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $161.00 million during the quarter, compared to the consensus estimate of $179.10 million.

Insider Activity

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of Babcock stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total value of $10,398,438.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Huntington National Bank raised its position in 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 buying an additional 4,000 shares during the last quarter. Centiva Capital LP acquired a new position in Babcock during the 3rd quarter worth approximately $31,000. Raymond James Financial Inc. boosted its position in Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after acquiring an additional 11,990 shares during the last quarter. Sender Co & Partners Inc. bought a new position in shares of Babcock during the 3rd quarter worth approximately $50,000. Finally, Platform Technology Partners acquired a new stake in shares of Babcock in the third quarter valued at approximately $54,000. 83.17% of the stock is currently owned by institutional investors.

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.