Babcock (NYSE:BW) Stock Price Up 3.8% – Still a Buy?
by Jessica Moore · The Cerbat GemBabcock (NYSE:BW – Get Free Report)’s stock price rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $5.82 and last traded at $5.7530. Approximately 378,092 shares were traded during trading, a decline of 84% from the average daily volume of 2,392,710 shares. The stock had previously closed at $5.54.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on BW shares. Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, November 5th. DA Davidson upped their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Babcock has a consensus rating of “Hold” and a consensus target price of $7.33.
Read Our Latest Research Report on Babcock
Babcock Stock Up 8.8%
The stock has a market cap of $669.38 million, a P/E ratio of -4.62 and a beta of 1.37. The company has a 50-day simple moving average of $5.35 and a two-hundred day simple moving average of $3.12.
Babcock (NYSE:BW – Get Free Report) last issued its earnings results 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 firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $155.57 million.
Hedge Funds Weigh In On Babcock
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sender Co & Partners Inc. purchased a new stake in shares of Babcock during the third quarter worth about $50,000. Qube Research & Technologies Ltd bought a new position in Babcock during the 3rd quarter valued at approximately $69,000. Centiva Capital LP purchased a new stake in Babcock in the 3rd quarter worth approximately $31,000. Bank of America Corp DE grew its position in shares of Babcock by 3,605.8% in the 3rd quarter. Bank of America Corp DE now owns 25,496 shares of the technology company’s stock worth $74,000 after buying an additional 24,808 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Babcock during the third quarter valued at approximately $102,000. 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.