Babcock (NYSE:BW) Trading 15.6% Higher – Should You Buy?

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

Analysts Set New Price Targets

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

Babcock Price Performance

The business has a 50-day moving average of $14.31 and a 200 day moving average of $13.56. The company has a market cap of $1.40 billion, a PE ratio of -10.69 and a beta of 1.16.

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

Institutional Trading of Babcock

Several large investors have recently added to or reduced their stakes in BW. Royal Bank of Canada increased its holdings in Babcock by 57.3% during the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Babcock by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 55,733 shares of the technology company’s stock worth $819,000 after acquiring an additional 1,604 shares during the last quarter. Mariner LLC grew its position in shares of Babcock by 10.8% during the 4th quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,620 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Babcock by 30.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 13,057 shares of the technology company’s stock worth $208,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Babcock in the 4th quarter worth $25,000. 83.17% of the stock is currently owned by 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.