Babcock (NYSE:BW) Stock Price Down 6.1% – Here’s What Happened

Babcock (NYSE:BW) shares were down 6.1% during mid-day trading on Tuesday . The stock traded as low as $7.04 and last traded at $7.0820. 415,217 shares changed hands during trading, a decline of 90% from the average daily volume of 4,067,849 shares. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

BW has been the subject of several recent research reports. Weiss Ratings upgraded shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Northland Securities set a $23.00 price target on shares of Babcock in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Needham & Company LLC assumed coverage on shares of Babcock in a research report on Monday. They set a “buy” rating and a $20.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Babcock presently has a consensus rating of “Hold” and a consensus target price of $15.40.

Babcock Stock Performance

The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45. The stock’s fifty day moving average is $10.32 and its two-hundred day moving average is $13.52. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -38.91 and a beta of 1.22.

Babcock (NYSE:BW) last posted its earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The firm had revenue of $319.69 million during the quarter, compared to analyst estimates of $196.95 million. On average, analysts expect that Babcock will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Babcock

In other Babcock news, Director Philip D. Moeller purchased 5,000 shares of the business’s stock in a transaction dated 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 approximately $2,287,685.50. This represents a 2.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Babcock

Several hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew 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 purchasing an additional 523,776 shares in the last quarter. Gendell Jeffrey L lifted its holdings in Babcock by 6.2% in the fourth quarter. Gendell Jeffrey L now owns 5,046,068 shares of the technology company’s stock worth $31,992,000 after purchasing an additional 293,245 shares during the period. Vanguard Group Inc. lifted its holdings in Babcock by 54.3% in the third 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 period. Marshall Wace LLP grew 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 valued at $21,373,000 after buying an additional 1,004,533 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Babcock by 777.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company’s stock valued at $43,693,000 after buying an additional 2,635,304 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

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.