Babcock (NYSE:BW) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Babcock (NYSE:BW) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 target price on the technology company’s stock.

BW has been the topic of several other research reports. Northland Securities set a $23.00 price target on shares of Babcock in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.40.

Babcock Stock Performance

Shares of Babcock stock opened at $7.03 on Monday. The stock’s fifty day moving average is $9.99 and its two-hundred day moving average is $13.48. The company has a market capitalization of $1.05 billion, a PE ratio of -39.08 and a beta of 1.19. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. Babcock has a 52 week low of $1.97 and a 52 week high of $22.03.

Babcock (NYSE:BW) last released its earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $319.69 million for the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. As a group, analysts expect that Babcock will post 0.27 earnings per share for the current year.

Insider Activity

In other news, Director Philip D. Moeller purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the purchase, the director owned 240,809 shares in the company, valued at approximately $2,287,685.50. This represents a 2.12% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

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