Babcock (NYSE:BW) Stock Price Up 9.3% – Here’s Why

Babcock (NYSE:BW)’s stock price traded up 9.3% on Friday . The company traded as high as $14.55 and last traded at $14.53. 1,993,601 shares traded hands during trading, a decline of 42% from the average session volume of 3,440,422 shares. The stock had previously closed at $13.29.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. DA Davidson raised their price target on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. Northland Securities assumed coverage on shares of Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price for the company. Zacks Research upgraded shares of Babcock to a “hold” rating in a report on Friday, January 23rd. Finally, Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

Babcock Stock Down 2.0%

The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -24.11 and a beta of 1.54. The company has a 50 day simple moving average of $8.90 and a 200-day simple moving average of $5.80.

Babcock (NYSE:BW) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $161.00 million for the quarter, compared to the consensus estimate of $179.10 million.

Insider Buying and Selling

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of Babcock stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total value of $10,398,438.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

A number of institutional investors and hedge funds have recently made changes to their positions in BW. Citizens Financial Group Inc. RI acquired a new stake in Babcock in the 3rd quarter valued at $1,160,000. AMH Equity Ltd bought a new stake in Babcock during the 3rd quarter valued at $2,042,000. Thames Capital Management LLC acquired a new position in Babcock during the third quarter worth $4,033,000. Bastion Asset Management Inc. acquired a new position in Babcock during the third quarter worth $450,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of Babcock in the third quarter valued at $625,000. Institutional investors own 83.17% of the company’s stock.

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.