Babcock (NYSE:BW) Given Consensus Recommendation of “Hold” by Brokerages

Babcock (NYSE:BW) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.40.

BW has been the topic of a number of recent research reports. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Northland Securities set a $23.00 price target on Babcock in a report on Tuesday, May 12th. Needham & Company LLC initiated coverage on Babcock in a research report on Monday. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th.

Babcock Stock Up 1.3%

Shares of BW opened at $7.12 on Friday. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45. The stock has a market capitalization of $1.06 billion, a PE ratio of -39.55 and a beta of 1.19. The company’s 50-day simple moving average is $9.84 and its 200-day simple moving average is $13.46. Babcock has a 1 year low of $1.97 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 for the quarter, topping the consensus estimate 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 firm had revenue of $319.69 million for the quarter, compared to the consensus estimate of $196.95 million. Analysts forecast that Babcock will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Philip Moeller bought 5,000 shares of Babcock stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, with a total value of $47,500.00. Following the completion of the acquisition, the director directly owned 240,809 shares in the company, valued at $2,287,685.50. The trade was a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Babcock

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in shares of Babcock during the 2nd quarter worth $25,159,000. Readystate Asset Management LP purchased a new position in Babcock in the second quarter valued at $1,900,000. Situational Awareness LP raised its stake in Babcock by 49.7% in the second quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock valued at $28,587,000 after buying an additional 673,551 shares in the last quarter. Sigma Planning Corp acquired a new stake in Babcock in the second quarter valued at $462,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Babcock during the 2nd quarter worth about $8,636,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

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.