Babcock (NYSE:BW) Trading Up 15.6% – Time to Buy?

Babcock (NYSE:BW)’s stock price was up 15.6% during mid-day trading on Thursday . The company traded as high as $9.27 and last traded at $9.18. 1,319,050 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 3,857,420 shares. The stock had previously closed at $7.94.

Analyst Ratings Changes

A number of research analysts have recently commented on BW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Friday, July 17th. Northland Securities set a $23.00 price target on shares of Babcock in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.25.

Babcock Stock Performance

The company has a fifty day moving average of $13.89 and a two-hundred day moving average of $13.54. The company has a market cap of $1.39 billion, a PE ratio of -10.61 and a beta of 1.16.

Babcock (NYSE:BW) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. On average, equities analysts forecast that Babcock will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Babcock

Large investors have recently made changes to their positions in the company. Huntington National Bank grew its holdings in Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,000 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Babcock in the fourth quarter worth about $25,000. Royal Bank of Canada lifted its stake in Babcock by 57.3% in the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Babcock during the third quarter valued at approximately $31,000. Finally, Raymond James Financial Inc. boosted its position in shares of Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares during the period. 83.17% of the stock is owned by hedge funds and other institutional investors.

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.