Babcock (NYSE:BW) Shares Gap Up – Here’s Why

Babcock (NYSE:BW) shares gapped up prior to trading on Monday . The stock had previously closed at $11.70, but opened at $12.33. Babcock shares last traded at $11.3850, with a volume of 692,584 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on BW shares. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Craig Hallum reissued a “buy” rating and set a $19.00 target price on shares of Babcock in a research note on Tuesday, March 17th. Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.25.

Babcock Stock Down 2.1%

The business’s 50-day moving average price is $16.40 and its 200-day moving average price is $13.19. The firm has a market capitalization of $1.70 billion, a PE ratio of -13.01 and a beta of 1.16.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to analysts’ expectations of $149.72 million. On average, analysts anticipate that Babcock will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Babcock

Several institutional investors and hedge funds have recently modified their holdings of BW. Legal & General Group Plc increased its stake in shares of Babcock by 10.8% in the fourth quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock worth $34,115,000 after acquiring an additional 523,776 shares during the last quarter. Gendell Jeffrey L grew its stake in Babcock by 6.2% in the fourth quarter. Gendell Jeffrey L now owns 5,046,068 shares of the technology company’s stock valued at $31,992,000 after purchasing an additional 293,245 shares in the last quarter. Vanguard Group Inc. increased its position in Babcock by 54.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares during the last quarter. Marshall Wace LLP increased its position in Babcock by 42.4% in the 4th quarter. Marshall Wace LLP now owns 3,371,134 shares of the technology company’s stock worth $21,373,000 after purchasing an additional 1,004,533 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Babcock by 777.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company’s stock worth $43,693,000 after purchasing an additional 2,635,304 shares in the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

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.