StockNews.com Upgrades Babcock & Wilcox Enterprises (NYSE:BW) to Hold

Babcock & Wilcox Enterprises (NYSE:BW) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

BW has been the topic of several other research reports. DA Davidson lowered their target price on shares of Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Lake Street Capital lowered their target price on shares of Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday.

Babcock & Wilcox Enterprises Price Performance

Shares of NYSE:BW opened at $1.05 on Friday. Babcock & Wilcox Enterprises has a 1-year low of $0.75 and a 1-year high of $6.64. The company has a market capitalization of $93.95 million, a P/E ratio of -0.44 and a beta of 1.36. The firm’s 50 day simple moving average is $1.19 and its two-hundred day simple moving average is $1.69.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) earnings per share for the quarter. The business had revenue of $227.20 million for the quarter, compared to analyst estimates of $255.20 million. On average, sell-side analysts anticipate that Babcock & Wilcox Enterprises will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Babcock & Wilcox Enterprises

In other Babcock & Wilcox Enterprises news, CEO Kenneth M. Young purchased 29,229 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of $1.03 per share, with a total value of $30,105.87. Following the completion of the purchase, the chief executive officer now directly owns 241,745 shares in the company, valued at $248,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 59,229 shares of company stock valued at $62,006. 3.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Babcock & Wilcox Enterprises

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Babcock & Wilcox Enterprises by 21.6% during the first quarter. JPMorgan Chase & Co. now owns 26,034 shares of the technology company’s stock valued at $212,000 after acquiring an additional 4,632 shares during the last quarter. Private Advisor Group LLC bought a new position in Babcock & Wilcox Enterprises during the first quarter valued at $91,000. MetLife Investment Management LLC increased its position in Babcock & Wilcox Enterprises by 11.7% during the first quarter. MetLife Investment Management LLC now owns 21,933 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,305 shares during the last quarter. Rhumbline Advisers increased its position in Babcock & Wilcox Enterprises by 10.5% during the first quarter. Rhumbline Advisers now owns 65,696 shares of the technology company’s stock valued at $536,000 after acquiring an additional 6,267 shares during the last quarter. Finally, Sei Investments Co. increased its position in Babcock & Wilcox Enterprises by 18.6% during the first quarter. Sei Investments Co. now owns 35,284 shares of the technology company’s stock valued at $306,000 after acquiring an additional 5,538 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock & Wilcox Enterprises Company Profile

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.