BrightView (NYSE:BV) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of BrightView (NYSE:BV) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other research analysts have also recently commented on BV. BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of BrightView in a research report on Monday, May 11th. JPMorgan Chase & Co. raised shares of BrightView from an “underweight” rating to a “neutral” rating and upped their price target for the company from $13.00 to $14.00 in a report on Thursday, May 7th. Oppenheimer began coverage on BrightView in a report on Wednesday, June 17th. They issued an “outperform” rating and a $17.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BrightView in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.52.

BrightView Stock Up 3.2%

Shares of BrightView stock opened at $14.86 on Tuesday. BrightView has a twelve month low of $11.06 and a twelve month high of $16.52. The company has a fifty day moving average price of $13.23 and a 200 day moving average price of $12.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -212.23 and a beta of 1.17.

BrightView (NYSE:BV) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $702.90 million during the quarter, compared to analyst estimates of $638.80 million. BrightView had a net margin of 1.70% and a return on equity of 7.25%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. Equities research analysts forecast that BrightView will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrightView

A number of hedge funds have recently made changes to their positions in the business. Private Management Group Inc. acquired a new stake in shares of BrightView during the 4th quarter valued at about $7,468,000. Two Sigma Investments LP lifted its stake in BrightView by 1,964.7% during the third quarter. Two Sigma Investments LP now owns 568,466 shares of the company’s stock worth $7,617,000 after purchasing an additional 540,933 shares during the period. Millennium Management LLC lifted its stake in BrightView by 54.2% during the first quarter. Millennium Management LLC now owns 1,456,682 shares of the company’s stock worth $18,704,000 after purchasing an additional 512,098 shares during the period. Pillsbury Lake Capital LLC acquired a new stake in BrightView during the fourth quarter valued at approximately $6,208,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in BrightView by 106.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 872,968 shares of the company’s stock valued at $11,061,000 after purchasing an additional 450,831 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

About BrightView

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.