Analysts Set Babcock (NYSE:BW) Price Target at $8.00

Shares of Babcock (NYSE:BW) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts have recently issued reports on BW shares. Zacks Research raised Babcock to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Finally, Northland Securities began coverage on shares of Babcock in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price on the stock.

Insider Activity at Babcock

In other news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

Several institutional investors have recently bought and sold shares of BW. Huntington National Bank lifted its holdings in Babcock by 400,000.0% during the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after buying an additional 4,000 shares during the period. State of Wyoming increased its holdings in shares of Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,936 shares during the period. Centiva Capital LP purchased a new position in shares of Babcock in the 3rd quarter valued at $31,000. Raymond James Financial Inc. raised its position in shares of Babcock by 11,311.3% in the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after acquiring an additional 11,990 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Babcock during the 4th quarter worth $80,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Babcock Stock Down 19.4%

Shares of NYSE:BW opened at $10.52 on Friday. Babcock has a 52-week low of $0.22 and a 52-week high of $14.90. The stock has a market cap of $1.17 billion, a P/E ratio of -19.47 and a beta of 1.54. The business’s 50 day moving average is $9.59 and its 200 day moving average is $6.23.

Babcock (NYSE:BW) last issued its earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $161.00 million during the quarter, compared to analyst estimates of $179.10 million.

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.