BrightView (NYSE:BV) Sees Strong Trading Volume – Here’s Why

BrightView Holdings, Inc. (NYSE:BV) saw unusually-high trading volume on Wednesday . 1,213,132 shares traded hands during mid-day 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.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research cut BrightView from a “hold” rating to a “strong sell” rating in a research report on Tuesday. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of BrightView in a research note on Monday, May 11th. JPMorgan Chase & Co. raised BrightView from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $13.00 to $14.00 in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightView in a research report on Monday, May 4th. Finally, Oppenheimer began coverage on BrightView in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.52.

BrightView Stock Performance

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $13.23 and a 200-day moving average of $12.90. The stock has a market cap of $1.38 billion, a PE ratio of -212.23 and a beta of 1.17.

BrightView (NYSE:BV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. BrightView had a return on equity of 7.25% and a net margin of 1.70%.The firm had revenue of $702.90 million during the quarter, compared to the consensus estimate of $638.80 million. During the same period in the prior year, the business earned $0.14 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that BrightView Holdings, Inc. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On BrightView

Several hedge funds have recently modified their holdings of BV. Bfsg LLC purchased a new position in BrightView in the 4th quarter valued at $49,000. BNP Paribas Financial Markets lifted its stake in shares of BrightView by 66.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock worth $93,000 after acquiring an additional 2,240 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of BrightView by 225.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock worth $94,000 after acquiring an additional 3,909 shares during the period. Glenmede Investment Management LP purchased a new stake in shares of BrightView in the third quarter valued at about $139,000. Finally, Man Group plc purchased a new stake in shares of BrightView in the second quarter valued at about $185,000. 92.41% of the stock is 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.