Babcock (NYSE:BW) Shares Down 8.1% – What’s Next?

Babcock (NYSE:BW) dropped 8.1% during trading on Monday. The company traded as low as $5.08 and last traded at $5.0170. Approximately 2,313,365 shares changed hands during trading, a decline of 45% from the average session volume of 4,224,035 shares. The stock had previously closed at $5.46.

Analysts Set New Price Targets

A number of brokerages have issued reports on BW. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC assumed coverage on Babcock in a research note on Monday, August 31st. They set a “buy” rating and a $20.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Babcock currently has an average rating of “Hold” and an average target price of $15.40.

Babcock Stock Performance

The firm has a 50 day moving average of $7.36 and a 200-day moving average of $12.41. The company has a market cap of $722.31 million, a P/E ratio of -26.97 and a beta of 1.17. 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 (NYSE:BW) last issued its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. The company had revenue of $319.72 million for the quarter, compared to the consensus estimate of $196.95 million. As a group, sell-side analysts anticipate that Babcock will post 0.27 EPS for the current fiscal year.

Insider Transactions at Babcock

In other Babcock news, Director Philip Moeller bought 5,000 shares of Babcock stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $9.50 per share, with a total value of $47,500.00. Following the purchase, the director directly owned 240,809 shares in the company, valued at $2,287,685.50. This represents a 2.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BW. Integrated Wealth Concepts LLC purchased a new stake in Babcock in the second quarter valued at $25,000. Royal Bank of Canada raised its stake in shares of Babcock by 57.3% during the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Babcock in the fourth quarter valued at $25,000. NewEdge Advisors LLC purchased a new position in Babcock in the first quarter valued at about $162,000. Finally, Cetera Investment Advisers purchased a new position in shares of Babcock in the first quarter valued at $191,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides products and services for power generation, industrial processing and emissions control. Its portfolio includes boilers, steam-generation equipment, thermal technologies, and systems designed to reduce air pollutants and improve energy efficiency.

The company also develops technologies for waste-to-energy, renewable energy, hydrogen production and carbon management. Its solutions are used by utilities, industrial operators, municipal organizations and other customers seeking to generate energy from conventional or alternative fuels while managing environmental impacts.

Babcock & Wilcox traces its roots to the Babcock & Wilcox Company, founded in the 19th century.