Babcock (NYSE:BW – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $7.17, but opened at $7.51. Babcock shares last traded at $7.75, with a volume of 1,336,609 shares traded.
Analysts Set New Price Targets
Several analysts recently commented on BW shares. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC initiated coverage on shares of Babcock in a research note on Monday, August 31st. They issued a “buy” rating and a $20.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.40.
Babcock Trading Up 9.2%
Babcock (NYSE:BW – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The firm had revenue of $319.72 million for the quarter, compared to the consensus estimate of $196.95 million. On average, research analysts expect that Babcock will post 0.27 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Philip Moeller bought 5,000 shares of the stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.
Institutional Trading of Babcock
A number of large investors have recently made changes to their positions in BW. Integrated Wealth Concepts LLC bought a new position in Babcock during the second quarter valued at approximately $25,000. Royal Bank of Canada grew its position in Babcock by 57.3% in the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Babcock in the 4th quarter worth approximately $25,000. Huntington National Bank raised its stake in Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after buying an additional 4,000 shares during the last quarter. Finally, State of Wyoming raised its stake in Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after buying an additional 4,936 shares during the last quarter. 83.17% of the stock is currently owned by institutional investors.
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.
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