Babcock (NYSE:BW) Shares Gap Up – Still a Buy?

Babcock (NYSE:BW) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.74, but opened at $12.83. Babcock shares last traded at $13.5140, with a volume of 3,074,044 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BW. Northland Securities started coverage on shares of Babcock in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Babcock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Babcock Trading Up 17.0%

The firm has a market cap of $1.53 billion, a PE ratio of -25.54 and a beta of 1.54. The business’s 50-day simple moving average is $9.70 and its 200 day simple moving average is $6.30.

Babcock (NYSE:BW) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $161.00 million during the quarter, compared to analysts’ expectations of $179.10 million.

Insider Activity

In other news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total transaction of $10,398,438.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.90% of the company’s stock.

Institutional Trading of Babcock

A number of institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI purchased a new stake in shares of Babcock during the third quarter valued at $1,160,000. Thames Capital Management LLC purchased a new stake in Babcock in the 3rd quarter worth approximately $4,033,000. AMH Equity Ltd acquired a new stake in Babcock during the third quarter valued at $2,042,000. Bastion Asset Management Inc. purchased a new position in shares of Babcock in the 3rd quarter valued at about $450,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of Babcock in the third quarter valued at approximately $625,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

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.