Babcock (NYSE:BW) Receives Consensus Recommendation of “Hold” from Analysts

Babcock (NYSE:BW) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.25.

BW has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Northland Securities set a $23.00 target price on Babcock in a research report on Tuesday, May 12th. Craig Hallum restated a “buy” rating and set a $19.00 target price on shares of Babcock in a report on Tuesday, March 17th. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th.

Babcock Stock Performance

BW opened at $19.68 on Wednesday. The company has a market capitalization of $2.93 billion, a P/E ratio of -22.36 and a beta of 1.08. Babcock has a fifty-two week low of $0.67 and a fifty-two week high of $22.03. The stock has a fifty day moving average of $16.72 and a 200-day moving average of $11.03.

Babcock (NYSE:BW) last posted its earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The business had revenue of $214.41 million during the quarter, compared to analysts’ expectations of $149.72 million. On average, equities research analysts predict that Babcock will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kenneth M. Young bought 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average cost of $15.14 per share, with a total value of $105,980.00. Following the acquisition, the chief executive officer owned 1,656,512 shares in the company, valued at $25,079,591.68. This trade represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. UBS Group AG lifted its stake in shares of Babcock by 337.1% during the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after purchasing an additional 1,114,593 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Babcock during the 3rd quarter valued at about $450,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Babcock in the 4th quarter worth about $569,000. Palumbo Wealth Management LLC acquired a new position in shares of Babcock during the 3rd quarter worth approximately $625,000. Finally, Thompson Davis & CO. Inc. lifted its holdings in Babcock by 221.8% in the third quarter. Thompson Davis & CO. Inc. now owns 96,550 shares of the technology company’s stock valued at $280,000 after acquiring an additional 66,550 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

About Babcock

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.