Babcock (NYSE:BW) Reaches New 12-Month High – Here’s Why

Shares of Babcock (NYSE:BW) reached a new 52-week high during trading on Thursday . The company traded as high as $13.10 and last traded at $12.94, with a volume of 4386105 shares trading hands. The stock had previously closed at $11.80.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BW shares. DA Davidson increased their price objective on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Northland Securities started coverage on shares of Babcock in a research report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Zacks Research raised shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Babcock Stock Performance

The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -24.11 and a beta of 1.54. The business has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $5.77.

Babcock (NYSE:BW) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

Institutional Trading of Babcock

A number of institutional investors and hedge funds have recently bought and sold shares of BW. Huntington National Bank raised its position in Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Babcock in the third quarter worth approximately $31,000. Raymond James Financial Inc. lifted its stake in shares of Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after acquiring an additional 11,990 shares during the period. Sender Co & Partners Inc. bought a new stake in Babcock in the third quarter valued at approximately $50,000. Finally, Platform Technology Partners bought a new stake in Babcock in the third quarter valued at approximately $54,000. 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.