Babcock (NYSE:BW) Trading Down 7.8% – Here’s What Happened

Babcock (NYSE:BW)’s share price traded down 7.8% during mid-day trading on Thursday . The stock traded as low as $8.30 and last traded at $8.40. 2,162,727 shares were traded during trading, a decline of 47% from the average daily volume of 4,052,895 shares. The stock had previously closed at $9.11.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BW. Northland Securities set a $23.00 target price on Babcock in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.25.

Babcock Price Performance

The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 4.21. The business’s fifty day moving average is $11.77 and its 200 day moving average is $13.62. The company has a market cap of $1.25 billion, a P/E ratio of -46.66 and a beta of 1.21.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The business had revenue of $319.69 million during the quarter, compared to analyst estimates of $196.95 million. As a group, sell-side analysts anticipate that Babcock will post 0.3 EPS for the current year.

Insider Activity at Babcock

In other news, Director Philip D. Moeller purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, with a total value of $47,500.00. Following the transaction, the director directly owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Babcock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in Babcock by 400,000.0% during the fourth 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 during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Babcock in the fourth quarter worth about $25,000. Royal Bank of Canada increased its stake in shares of Babcock by 57.3% in the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Babcock in the third quarter valued at approximately $31,000. Finally, Raymond James Financial Inc. raised its position 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 valued at $35,000 after purchasing an additional 11,990 shares during the period. 83.17% of the stock is currently owned by institutional investors.

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.