Babcock (NYSE:BW) Hits New 12-Month High – Time to Buy?

Babcock (NYSE:BW) shares reached a new 52-week high during trading on Monday . The stock traded as high as $17.39 and last traded at $16.9240, with a volume of 1366060 shares traded. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BW. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of Babcock in a research note on Tuesday, March 17th. 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 objective on the stock. Zacks Research upgraded shares of Babcock to a “hold” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Three investment 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

Babcock Stock Up 7.2%

The company’s fifty day moving average price is $11.62 and its two-hundred day moving average price is $7.52. The firm has a market cap of $2.29 billion, a PE ratio of -31.24 and a beta of 1.09.

Babcock (NYSE:BW) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $161.00 million for the quarter, compared to analysts’ expectations of $179.10 million.

Insider Buying and Selling

In other Babcock news, CEO Kenneth M. Young purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the purchase, the chief executive officer directly owned 1,656,512 shares in the company, valued at $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total value of $10,398,438.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Babcock

Several institutional investors have recently made changes to their positions in BW. Marshall Wace LLP boosted its position in shares of Babcock by 93.0% during the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock worth $380,000 after purchasing an additional 190,814 shares in the last quarter. Gendell Jeffrey L increased its holdings in shares of 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 purchasing an additional 849,602 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after purchasing an additional 46,884 shares during the period. Shikiar Asset Management Inc. acquired a new stake in shares of Babcock in the third quarter valued at about $138,000. Finally, Global Retirement Partners LLC purchased a new stake in Babcock during the third quarter worth about $71,000. 83.17% of the stock is currently owned by hedge funds and other 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.