Zacks: Analysts Set $5.50 Price Target for Broadwind Energy Inc. (BWEN)

Broadwind Energy Inc. (NASDAQ:BWEN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $5.50 for the company and are predicting that the company will post ($0.30) EPS for the current quarter, according to Zacks. Zacks has also given Broadwind Energy an industry rank of 80 out of 265 based on the ratings given to related companies.

BWEN has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Broadwind Energy from a “hold” rating to a “sell” rating in a report on Monday, September 25th. ValuEngine downgraded shares of Broadwind Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, Roth Capital set a $5.00 price objective on shares of Broadwind Energy and gave the stock a “buy” rating in a report on Tuesday, October 31st.

A number of hedge funds have recently bought and sold shares of BWEN. Russell Investments Group Ltd. acquired a new stake in Broadwind Energy in the second quarter worth about $226,000. Bank of New York Mellon Corp raised its position in Broadwind Energy by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 59,647 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 1,004 shares in the last quarter. JPMorgan Chase & Co. raised its position in Broadwind Energy by 186.3% in the second quarter. JPMorgan Chase & Co. now owns 21,038 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 13,691 shares in the last quarter. Vanguard Group Inc. raised its position in Broadwind Energy by 63.9% in the second quarter. Vanguard Group Inc. now owns 589,115 shares of the industrial products company’s stock worth $2,969,000 after acquiring an additional 229,664 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Broadwind Energy by 222.8% in the second quarter. Dimensional Fund Advisors LP now owns 353,955 shares of the industrial products company’s stock worth $1,784,000 after acquiring an additional 244,298 shares in the last quarter. 52.96% of the stock is owned by institutional investors and hedge funds.

Shares of Broadwind Energy (NASDAQ:BWEN) opened at $2.76 on Friday. The firm has a market cap of $43.17, a PE ratio of 11.50 and a beta of 1.55. Broadwind Energy has a 1-year low of $2.34 and a 1-year high of $9.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.43.

Broadwind Energy (NASDAQ:BWEN) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The business had revenue of $29.60 million during the quarter, compared to the consensus estimate of $29.84 million. Broadwind Energy had a net margin of 2.05% and a negative return on equity of 1.31%. The company’s quarterly revenue was down 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. analysts forecast that Broadwind Energy will post -0.07 EPS for the current fiscal year.

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About Broadwind Energy

Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.

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