Babcock (NYSE:BW) Stock Price Down 7.4% – Should You Sell?

Shares of Babcock (NYSE:BW) dropped 7.4% during mid-day trading on Wednesday . The company traded as low as $13.14 and last traded at $13.05. Approximately 372,606 shares traded hands during trading, a decline of 90% from the average session volume of 3,904,925 shares. The stock had previously closed at $14.10.

Analysts Set New Price Targets

BW has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Northland Securities set a $23.00 price target on shares of Babcock in a research report on Tuesday, May 12th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.25.

Babcock Stock Down 6.7%

The business has a 50-day moving average of $17.03 and a 200-day moving average of $12.84. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -14.94 and a beta of 1.10.

Babcock (NYSE:BW) last issued its earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The business had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. Equities analysts anticipate that Babcock will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Babcock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Babcock by 57.3% in the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Babcock during the 4th quarter valued at $25,000. Huntington National Bank raised its holdings in shares of Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,000 shares in the last quarter. State of Wyoming lifted its stake in shares of Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,936 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Babcock in the 3rd quarter valued at $31,000. Institutional investors 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.