Babcock (NYSE:BW) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Babcock (NYSE:BW) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.37 and traded as high as $15.93. Babcock shares last traded at $15.7840, with a volume of 3,137,919 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BW. Zacks Research raised Babcock to a “hold” rating in a research report on Friday, January 23rd. Wall Street Zen raised Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Northland Securities initiated coverage on Babcock in a research report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target for the company. Finally, Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Babcock Stock Up 0.4%

The company’s 50-day moving average is $11.62 and its 200 day moving average is $7.46. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -29.23 and a beta of 1.09.

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

Insider Transactions at Babcock

In other Babcock news, CEO Kenneth M. Young bought 7,000 shares of Babcock stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $15.14 per share, with a total value of $105,980.00. Following 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 position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total value of $10,398,438.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Babcock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC increased its stake in shares of Babcock by 10.8% during the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock worth $105,000 after purchasing an additional 1,620 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Babcock in the 4th quarter valued at about $25,000. Huntington National Bank boosted its holdings in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after buying an additional 4,000 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Babcock by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock worth $123,000 after buying an additional 4,400 shares during the last quarter. Finally, State of Wyoming increased its stake in Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after buying an additional 4,936 shares in the last quarter. 83.17% of the stock is owned by hedge funds and other 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.