Babcock (NYSE:BW) Trading 6.2% Higher – What’s Next?
by Teresa Graham · The Cerbat GemShares of Babcock (NYSE:BW – Get Free Report) shot up 6.2% on Monday . The stock traded as high as $15.86 and last traded at $15.3990. 1,079,376 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 3,908,471 shares. The stock had previously closed at $14.50.
Wall Street Analyst Weigh In
BW has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Craig Hallum restated a “buy” rating and set a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Zacks Research upgraded shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Finally, Northland Securities assumed coverage on shares of Babcock in a research report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price for the company. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Babcock has an average rating of “Hold” and a consensus target price of $11.00.
View Our Latest Analysis on Babcock
Babcock Trading Up 5.1%
The firm has a fifty day moving average of $13.78 and a two-hundred day moving average of $9.00. The company has a market cap of $2.07 billion, a PE ratio of -28.23 and a beta of 1.09.
Babcock (NYSE:BW – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $161.00 million for the quarter, compared to analyst estimates of $179.10 million. Sell-side analysts expect that Babcock will post 0.21 EPS for the current fiscal year.
Insiders Place Their Bets
In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the firm’s 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth M. Young bought 7,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was bought at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the purchase, the chief executive officer directly owned 1,656,512 shares of the company’s stock, valued at $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.80% of the company’s stock.
Institutional Trading of Babcock
A number of hedge funds have recently made changes to their positions in BW. Rockefeller Capital Management L.P. bought a new position in Babcock in the fourth quarter valued at $25,000. Huntington National Bank lifted its stake in Babcock by 400,000.0% during the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares during the last quarter. State of Wyoming lifted its stake in Babcock by 88.7% during the fourth quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,936 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Babcock in the 3rd quarter worth about $31,000. Finally, Raymond James Financial Inc. increased its position in shares of Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after purchasing an additional 11,990 shares during the last quarter. 83.17% of the stock is owned by institutional investors.
Babcock Company Profile
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.