Babcock (NYSE:BW) Receives Average Recommendation of “Hold” from Analysts

Babcock (NYSE:BW) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $8.00.

BW has been the subject of several research analyst reports. Craig Hallum raised shares of 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Northland Securities initiated coverage on shares of Babcock in a research note on Thursday. They issued an “outperform” rating and a $10.00 price objective for the company. DA Davidson boosted their target price on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Babcock in a research report on Wednesday, November 5th.

Institutional Investors Weigh In On Babcock

A number of hedge funds and other institutional investors have recently bought and sold shares of BW. Citizens Financial Group Inc. RI purchased a new stake in Babcock in the third quarter valued at approximately $1,160,000. Thames Capital Management LLC bought a new position in shares of Babcock during the third quarter valued at about $4,033,000. AMH Equity Ltd purchased a new position in Babcock in the 3rd quarter worth approximately $2,042,000. Gendell Jeffrey L raised its holdings in Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after buying an additional 849,602 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in shares of Babcock during the third quarter worth about $406,000. Institutional investors own 83.17% of the company’s stock.

Babcock Stock Up 0.8%

Babcock stock traded up $0.07 during trading hours on Thursday, reaching $8.30. 432,400 shares of the company’s stock were exchanged, compared to its average volume of 3,300,635. The firm has a market capitalization of $921.69 million, a PE ratio of -6.36 and a beta of 1.43. The firm’s 50 day simple moving average is $6.40 and its 200 day simple moving average is $3.87. Babcock has a twelve month low of $0.22 and a twelve month high of $8.83.

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

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.