Babcock (NYSE:BW) Stock Price Expected to Rise, DA Davidson Analyst Says

Babcock (NYSE:BW) had its price objective boosted by equities researchers at DA Davidson from $1.50 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential downside of 12.02% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a research note on Saturday. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, October 8th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Babcock in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Babcock currently has a consensus rating of “Hold” and an average target price of $7.33.

Babcock Stock Down 1.2%

NYSE BW opened at $6.82 on Wednesday. The firm has a 50-day moving average price of $3.41 and a 200 day moving average price of $1.89. The stock has a market capitalization of $757.70 million, a P/E ratio of -4.01 and a beta of 1.91. Babcock has a 52-week low of $0.22 and a 52-week high of $7.24.

Babcock (NYSE:BW) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young purchased 20,000 shares of Babcock stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $1.51 per share, with a total value of $30,200.00. Following the completion of the acquisition, the chief executive officer owned 261,745 shares in the company, valued at $395,234.95. The trade was a 8.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cameron M. Frymyer bought 20,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $1.55 per share, for a total transaction of $31,000.00. Following the purchase, the chief financial officer owned 153,805 shares in the company, valued at $238,397.75. This trade represents a 14.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 59,347 shares of company stock worth $99,803 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Platform Technology Partners acquired a new position in shares of Babcock in the 3rd quarter valued at $54,000. Kathmere Capital Management LLC purchased a new stake in shares of Babcock during the 3rd quarter worth about $58,000. Russell Investments Group Ltd. boosted its holdings in Babcock by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 22,452 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Babcock during the 3rd quarter valued at about $71,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Babcock in the third quarter worth $96,000. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.