Babcock (NYSE:BW) Stock Gets Price Target Cut from Needham & Company LLC

Babcock (NYSE:BW) had its price target cut by Needham & Company LLC from $20.00 to $15.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Babcock in a research report on Wednesday, November 4th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Babcock currently has an average rating of “Hold” and an average target price of $19.00.

Babcock Stock Up 0.9%

BW opened at $4.88 on Tuesday. The firm has a market cap of $710.52 million, a price-to-earnings ratio of -10.62 and a beta of 1.24. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.33 and a current ratio of 1.79. The firm’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $11.22. Babcock has a twelve month low of $3.07 and a twelve month high of $22.03.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $319.72 million during the quarter, compared to the consensus estimate of $196.95 million. Babcock had a net margin of 4.11% and a negative return on equity of 36.52%. Equities research analysts anticipate that Babcock will post 0.79 EPS for the current fiscal year.

Insider Transactions at Babcock

In related news, major shareholder Brc Group Holdings, Inc. purchased 130,000 shares of Babcock stock in a transaction that occurred on Wednesday, November 11th. The shares were acquired at an average price of $4.98 per share, for a total transaction of $647,400.00. Following the transaction, the insider directly owned 103,810 shares in the company, valued at approximately $516,973.80. This represents a -496.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Babcock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BW. Royce & Associates LP boosted its position in Babcock by 13.1% in the 3rd quarter. Royce & Associates LP now owns 851,866 shares of the technology company’s stock valued at $4,975,000 after buying an additional 98,686 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Babcock by 80.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 66,380 shares of the technology company’s stock valued at $388,000 after buying an additional 29,564 shares during the period. Pier 88 Investment Partners LLC raised its position in shares of Babcock by 59.9% during the third quarter. Pier 88 Investment Partners LLC now owns 23,500 shares of the technology company’s stock worth $137,000 after acquiring an additional 8,800 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Babcock by 28.3% during the third quarter. Pictet Asset Management Holding SA now owns 20,687 shares of the technology company’s stock worth $121,000 after acquiring an additional 4,558 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Babcock by 64.0% during the third quarter. Chicago Partners Investment Group LLC now owns 24,202 shares of the technology company’s stock worth $100,000 after acquiring an additional 9,448 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Key Headlines Impacting Babcock

Here are a few of the latest headlines about BW:

• Positive Sentiment: Major shareholder BRC Group Holdings disclosed buying 130,000 shares at an average $4.98 each, a potentially supportive sign of confidence. SEC ownership filing
• Negative Sentiment: Needham & Company cut its price target for BW, a potentially bearish analyst signal; the available report headline does not specify the revised target or rationale. Article: Babcock Stock Price Target Cut
• Negative Sentiment: Pomerantz issued an investor alert regarding a class-action lawsuit and invited investors who believe they suffered losses to contact the firm. The notice adds legal uncertainty, though it does not establish any finding of wrongdoing. Pomerantz investor alert

About Babcock

Babcock & Wilcox Enterprises, Inc. is an energy and environmental technology company serving power, industrial and municipal customers. Its offerings include steam-generation equipment, emissions-control systems and related engineering, construction, maintenance and aftermarket services. The company also develops technologies for renewable and waste-to-energy applications, including systems that use biomass and municipal solid waste to produce energy. Its environmental technologies help customers manage emissions and other byproducts from energy and industrial processes.