Babcock (NYSE:BW) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Babcock (NYSE:BW) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 180.11% from the stock’s current price.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Northland Securities set a $23.00 price target on Babcock in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.40.

Babcock Stock Performance

BW opened at $7.14 on Monday. The firm has a market capitalization of $1.06 billion, a PE ratio of -39.66 and a beta of 1.22. The firm’s 50-day moving average price is $10.52 and its 200 day moving average price is $13.53. Babcock has a twelve month low of $1.97 and a twelve month high of $22.03. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 4.21.

Babcock (NYSE:BW) last posted its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 EPS 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 firm had revenue of $319.69 million during the quarter, compared to analysts’ expectations of $196.95 million. As a group, sell-side analysts expect that Babcock will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Philip D. Moeller acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $9.50 per share, with a total value of $47,500.00. Following the completion of the acquisition, the director owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Babcock

A number of large investors have recently bought and sold shares of BW. Royal Bank of Canada lifted its holdings in shares of Babcock by 57.3% during 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 during the period. Bank of New York Mellon Corp lifted its holdings in Babcock by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 55,733 shares of the technology company’s stock valued at $819,000 after acquiring an additional 1,604 shares during the period. Mariner LLC increased its holdings in shares of Babcock by 10.8% in the 4th quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,620 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Babcock by 30.6% during the first quarter. Chicago Partners Investment Group LLC now owns 13,057 shares of the technology company’s stock worth $208,000 after buying an additional 3,057 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Babcock during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

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.