Babcock (NYSE:BW) Reaches New 12-Month High – What’s Next?

Shares of Babcock (NYSE:BW) reached a new 52-week high during trading on Tuesday . The company traded as high as $10.99 and last traded at $10.4940, with a volume of 418854 shares changing hands. The stock had previously closed at $10.07.

Analysts Set New Price Targets

BW has been the subject of a number of research reports. Zacks Research upgraded Babcock to a “hold” rating in a research report on Friday, January 23rd. Northland Securities started coverage on shares of Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price for the company. DA Davidson upped their price target on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. Finally, Lake Street Capital restated a “buy” rating and issued a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

Babcock Price Performance

The stock’s 50-day simple moving average is $6.97 and its 200 day simple moving average is $4.39. The stock has a market capitalization of $1.20 billion, a P/E ratio of -8.21 and a beta of 1.55.

Babcock (NYSE:BW) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $155.57 million.

Institutional Investors Weigh In On Babcock

Large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Babcock during the fourth quarter worth $569,000. Pekin Hardy Strauss Inc. acquired a new position in Babcock in the fourth quarter valued at $111,000. UBS Group AG grew its position in shares of Babcock by 337.1% during the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after buying an additional 1,114,593 shares during the period. Palumbo Wealth Management LLC increased its position in Babcock by 38.1% in the 4th quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company’s stock valued at $1,887,000 after buying an additional 82,118 shares in the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in Babcock during the 3rd quarter valued at $50,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

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.