BrightView (NYSE:BV) Sees Unusually-High Trading Volume – Time to Buy?

BrightView Holdings, Inc. (NYSE:BV) shares saw an uptick in trading volume on Wednesday . Approximately 1,213,132 shares changed hands during trading, an increase of 92% from the previous session’s volume of 632,166 shares.The stock last traded at $14.7470 and had previously closed at $14.34.

Analysts Set New Price Targets

A number of research analysts have issued reports on BV shares. JPMorgan Chase & Co. raised BrightView from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightView in a report on Monday, May 4th. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of BrightView in a research report on Monday, May 11th. Finally, Oppenheimer assumed coverage on BrightView in a research note on Wednesday, June 17th. They set an “outperform” rating and a $17.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.52.

BrightView Price Performance

The stock has a market cap of $1.37 billion, a P/E ratio of -210.79 and a beta of 1.17. The company has a 50 day simple moving average of $13.17 and a 200 day simple moving average of $12.87. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66.

BrightView (NYSE:BV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. BrightView had a net margin of 1.70% and a return on equity of 7.25%. The company had revenue of $702.90 million during the quarter, compared to analysts’ expectations of $638.80 million. During the same period last year, the business earned $0.14 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts forecast that BrightView Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BrightView

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Management Group Inc. acquired a new stake in shares of BrightView in the 4th quarter valued at approximately $7,468,000. Two Sigma Investments LP raised its position in BrightView by 1,964.7% during the third quarter. Two Sigma Investments LP now owns 568,466 shares of the company’s stock worth $7,617,000 after acquiring an additional 540,933 shares in the last quarter. Millennium Management LLC raised its position in BrightView by 54.2% during the first quarter. Millennium Management LLC now owns 1,456,682 shares of the company’s stock worth $18,704,000 after acquiring an additional 512,098 shares in the last quarter. Pillsbury Lake Capital LLC acquired a new stake in BrightView in the fourth quarter valued at $6,208,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of BrightView by 106.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 872,968 shares of the company’s stock valued at $11,061,000 after acquiring an additional 450,831 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.