Babcock (NYSE:BW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Babcock (NYSE:BW) from a hold rating to a buy rating in a research note released on Saturday morning.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Craig Hallum reiterated a “buy” rating and set a $19.00 price objective on shares of Babcock in a report on Tuesday, March 17th. Zacks Research upgraded Babcock to a “hold” rating in a research note on Friday, January 23rd. Finally, Northland Securities began coverage on Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.

Babcock Stock Down 2.5%

Shares of NYSE BW opened at $14.80 on Friday. The company has a market capitalization of $2.00 billion, a PE ratio of -27.40 and a beta of 1.54. Babcock has a twelve month low of $0.22 and a twelve month high of $16.24. The firm has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $6.74.

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

Insider Buying and Selling at Babcock

In other Babcock news, CEO Kenneth M. Young acquired 7,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average cost of $15.14 per share, with a total value of $105,980.00. Following the completion of the purchase, the chief executive officer owned 1,656,512 shares of the company’s stock, valued at approximately $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of Babcock stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. The SEC filing for this sale provides additional information. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

A number of hedge funds have recently added to or reduced their stakes in BW. Legal & General Group Plc raised its stake in shares of Babcock by 10.8% in the fourth quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock worth $34,115,000 after purchasing an additional 523,776 shares during the last quarter. Gendell Jeffrey L boosted its position in shares of Babcock by 6.2% during the fourth quarter. Gendell Jeffrey L now owns 5,046,068 shares of the technology company’s stock valued at $31,992,000 after buying an additional 293,245 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Babcock by 54.3% during the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after buying an additional 1,556,692 shares during the last quarter. Marshall Wace LLP grew its holdings in Babcock by 42.4% during the fourth quarter. Marshall Wace LLP now owns 3,371,134 shares of the technology company’s stock worth $21,373,000 after buying an additional 1,004,533 shares in the last quarter. Finally, UBS Group AG raised its position in Babcock by 337.1% in the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after buying an additional 1,114,593 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

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.