BrightView (NYSE:BV) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of BrightView Holdings, Inc. (NYSE:BV) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $10.78 and traded as high as $10.89. BrightView shares last traded at $10.8250, with a volume of 831,080 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $14.00 price target on shares of BrightView in a report on Wednesday, August 5th. Zacks Research upgraded shares of BrightView from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen upgraded shares of BrightView from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightView in a research report on Friday, July 31st. Finally, Morgan Stanley lowered their target price on BrightView from $12.50 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.93.

BrightView Stock Up 6.4%

The company has a market capitalization of $1.08 billion, a P/E ratio of -46.22, a PEG ratio of 1.40 and a beta of 1.20. The firm’s 50 day moving average price is $10.77 and its two-hundred day moving average price is $12.34. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.71.

BrightView (NYSE:BV) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.12). BrightView had a net margin of 0.74% and a return on equity of 5.03%. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $726.13 million. During the same quarter last year, the business earned $0.30 earnings per share. BrightView’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that BrightView Holdings, Inc. will post 0.40 EPS for the current year.

Insiders Place Their Bets

In other BrightView news, Director William Cornog purchased 50,000 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the purchase, the director owned 70,000 shares of the company’s stock, valued at approximately $787,500. This represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightView

Several institutional investors and hedge funds have recently added to or reduced their stakes in BV. BlackRock Inc. bought a new stake in BrightView during the second quarter worth $80,091,000. Dimensional Fund Advisors LP lifted its stake in BrightView by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,268,756 shares of the company’s stock valued at $62,118,000 after acquiring an additional 192,376 shares during the last quarter. Van Berkom & Associates Inc. grew its position in shares of BrightView by 3.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 5,038,617 shares of the company’s stock valued at $59,405,000 after acquiring an additional 179,757 shares during the period. Bessemer Group Inc. grew its position in shares of BrightView by 5.6% in the 1st quarter. Bessemer Group Inc. now owns 1,879,712 shares of the company’s stock valued at $22,162,000 after acquiring an additional 99,103 shares during the period. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of BrightView in the 2nd quarter valued at about $16,778,000. 92.41% of the stock is owned by institutional investors.

About BrightView

BrightView Holdings, Inc (NYSE: BV) is a provider of commercial landscaping services in the United States. Through its maintenance operations, the company helps businesses, government facilities, sports venues, education campuses, healthcare properties and other organizations manage and maintain outdoor spaces.

BrightView’s services include landscape design and development, ongoing landscape maintenance, tree care, irrigation management, water conservation and snow and ice removal. Its landscape development work can include the installation of plants, turf, hardscapes, irrigation systems and other outdoor features, while its maintenance services are intended to support the appearance, health and functionality of managed properties.

The company was formed in 2014 through the combination of Brickman and ValleyCrest, two established landscaping businesses, and became a publicly traded company in 2018.