Babcock (NYSE:BW) Stock Price Up 3.8% – Still a Buy?

Shares of Babcock (NYSE:BW) traded up 3.8% on Tuesday . The stock traded as high as $5.82 and last traded at $5.7530. 378,092 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,392,710 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

BW has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Lake Street Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 5th. DA Davidson raised their price target on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research 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. Based on data from MarketBeat.com, Babcock presently has an average rating of “Hold” and an average price target of $7.33.

Babcock Stock Up 1.3%

The stock’s 50-day moving average price is $5.47 and its 200 day moving average price is $3.18. The company has a market cap of $705.49 million, a P/E ratio of -4.88 and a beta of 1.37.

Babcock (NYSE:BW) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $155.57 million.

Hedge Funds Weigh In On Babcock

A number of institutional investors have recently made changes to their positions in the business. Gendell Jeffrey L grew its holdings in Babcock by 49.2% in the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after buying an additional 849,602 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Babcock by 13.6% during the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares during the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock valued at $87,000 after acquiring an additional 60,000 shares during the period. AMH Equity Ltd bought a new stake in shares of Babcock in the third quarter valued at approximately $2,042,000. Finally, Platform Technology Partners acquired a new stake in shares of Babcock in the third quarter worth $54,000. 83.17% of the stock is currently owned by institutional investors.

About Babcock

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.