BrightView (NYSE:BV) Price Target Raised to $13.00

BrightView (NYSE:BV) had its price objective increased by Morgan Stanley from $12.00 to $13.00 in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. BTIG Research began coverage on BrightView in a report on Monday, December 1st. They issued a “buy” rating and a $15.00 price target on the stock. Robert W. Baird dropped their price target on BrightView from $19.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. The Goldman Sachs Group cut their price target on BrightView from $13.50 to $10.50 and set a “sell” rating for the company in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of BrightView in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of BrightView from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BrightView presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.70.

BrightView Stock Performance

Shares of BV stock opened at $12.72 on Wednesday. The business’s fifty day moving average price is $12.58 and its 200 day moving average price is $14.14. The firm has a market capitalization of $1.20 billion, a PE ratio of 318.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 1.30. BrightView has a 1-year low of $11.06 and a 1-year high of $17.10.

BrightView (NYSE:BV) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). BrightView had a return on equity of 8.43% and a net margin of 2.10%.The company had revenue of $702.80 million for the quarter, compared to analysts’ expectations of $718.03 million. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that BrightView will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jonathan Mark Gottsegen sold 35,000 shares of BrightView stock in a transaction on Monday, December 1st. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the transaction, the executive vice president owned 142,958 shares in the company, valued at approximately $1,804,129.96. This trade represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Cornog purchased 10,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were purchased at an average cost of $12.84 per share, with a total value of $128,400.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at $385,200. This trade represents a 50.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BrightView

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BV. XTX Topco Ltd purchased a new stake in BrightView during the 3rd quarter worth approximately $679,000. Alyeska Investment Group L.P. grew its position in shares of BrightView by 5.9% during the third quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the company’s stock worth $6,030,000 after buying an additional 25,000 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of BrightView by 29.3% in the third quarter. Qube Research & Technologies Ltd now owns 440,735 shares of the company’s stock worth $5,906,000 after buying an additional 99,928 shares during the last quarter. Punch & Associates Investment Management Inc. raised its holdings in BrightView by 0.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,099,128 shares of the company’s stock valued at $14,728,000 after acquiring an additional 4,654 shares in the last quarter. Finally, Harvey Partners LLC boosted its stake in BrightView by 5.0% during the 3rd quarter. Harvey Partners LLC now owns 2,949,000 shares of the company’s stock valued at $39,517,000 after acquiring an additional 141,000 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

BrightView Company Profile

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.