Babcock (NYSE:BW) Coverage Initiated at Northland Securities

Equities research analysts at Northland Securities started coverage on shares of Babcock (NYSE:BW) in a report released on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $10.00 price target on the technology company’s stock. Northland Securities’ price target would indicate a potential upside of 6.10% from the stock’s current price.

Several other analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson upped their price target on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, November 5th. Finally, Lake Street Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Babcock in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Babcock has an average rating of “Hold” and a consensus price target of $8.00.

Babcock Price Performance

NYSE BW opened at $9.43 on Thursday. The stock’s 50-day moving average is $6.50 and its 200-day moving average is $3.96. Babcock has a one year low of $0.22 and a one year high of $9.63. The firm has a market cap of $1.05 billion, a P/E ratio of -7.25 and a beta of 1.43.

Babcock (NYSE:BW) last announced its earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Institutional Trading of Babcock

Several institutional investors and hedge funds have recently added to or reduced their stakes in BW. Palumbo Wealth Management LLC grew its position in shares of Babcock by 38.1% in the 4th quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company’s stock valued at $1,887,000 after acquiring an additional 82,118 shares during the period. Sender Co & Partners Inc. acquired a new position in shares of Babcock during the 3rd quarter worth approximately $50,000. Qube Research & Technologies Ltd bought a new position in Babcock during the third quarter worth $69,000. Centiva Capital LP acquired a new stake in shares of Babcock during the 3rd quarter worth about $31,000. Finally, Bank of America Corp DE boosted its holdings in shares of Babcock by 3,605.8% during the third quarter. Bank of America Corp DE now owns 25,496 shares of the technology company’s stock worth $74,000 after acquiring an additional 24,808 shares during the period. 83.17% of the stock is owned by institutional investors.

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.