Babcock (NYSE:BW) Hits New 1-Year High – Here’s Why

by · The Markets Daily

Babcock (NYSE:BW – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $8.58 and last traded at $8.1790, with a volume of 186913 shares changing hands. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BW. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, November 5th. Lake Street Capital reissued a “buy” rating and set a $9.00 price objective on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, DA Davidson lifted their price target on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.33.

Get Our Latest Analysis on Babcock

Babcock Stock Down 0.0%

The firm has a 50-day moving average of $6.19 and a two-hundred day moving average of $3.61. The stock has a market capitalization of $913.02 million, a price-to-earnings ratio of -6.32 and a beta of 1.43.

Babcock (NYSE:BW – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Institutional Investors Weigh In On Babcock

Institutional investors have recently modified their holdings of the stock. Gendell Jeffrey L raised its stake in shares of Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after purchasing an additional 849,602 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Babcock by 13.6% in the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in Babcock during the third quarter valued at approximately $1,160,000. Quinn Opportunity Partners LLC lifted its stake in Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after acquiring an additional 60,000 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in Babcock in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Company Profile

(Get Free Report)

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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