Lake Street Capital Lowers Babcock & Wilcox Enterprises (NYSE:BW) Price Target to $8.00

Babcock & Wilcox Enterprises (NYSE:BW) had its price objective cut by equities research analysts at Lake Street Capital from $11.00 to $8.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock.

Several other equities analysts have also weighed in on BW. DA Davidson cut their target price on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. StockNews.com downgraded shares of Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th.

Babcock & Wilcox Enterprises Stock Performance

NYSE:BW opened at $1.05 on Thursday. The company has a market cap of $93.95 million, a price-to-earnings ratio of -0.44 and a beta of 1.36. Babcock & Wilcox Enterprises has a 52-week low of $0.75 and a 52-week high of $6.64. The stock’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.71.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) earnings per share for the quarter. The company had revenue of $227.20 million for the quarter, compared to analyst estimates of $255.20 million. On average, equities analysts predict that Babcock & Wilcox Enterprises will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Babcock & Wilcox Enterprises

In other Babcock & Wilcox Enterprises news, CEO Kenneth M. Young bought 29,229 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was acquired at an average cost of $1.03 per share, with a total value of $30,105.87. Following the purchase, the chief executive officer now owns 241,745 shares in the company, valued at $248,997.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders acquired 59,229 shares of company stock valued at $62,006. Company insiders own 3.19% of the company’s stock.

Hedge Funds Weigh In On Babcock & Wilcox Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Babcock & Wilcox Enterprises by 662.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,403 shares of the technology company’s stock worth $27,000 after acquiring an additional 15,990 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Babcock & Wilcox Enterprises during the fourth quarter worth $27,000. Weiss Asset Management LP bought a new position in Babcock & Wilcox Enterprises in the fourth quarter valued at $28,000. Royal Bank of Canada increased its stake in Babcock & Wilcox Enterprises by 65.5% in the 2nd quarter. Royal Bank of Canada now owns 5,966 shares of the technology company’s stock valued at $35,000 after buying an additional 2,362 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in Babcock & Wilcox Enterprises during the 3rd quarter worth about $43,000. 83.17% of the stock is owned by institutional investors and hedge funds.

Babcock & Wilcox Enterprises Company Profile

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.