BrightView (NYSE:BV) Price Target Raised to $14.00

BrightView (NYSE:BV) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $11.00 to $14.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 2.10% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird raised shares of BrightView from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $13.00 to $17.00 in a research note on Tuesday. The Goldman Sachs Group upped their price target on shares of BrightView from $10.00 to $11.30 and gave the stock a “sell” rating in a research note on Friday. Loop Capital raised shares of BrightView to a “strong-buy” rating in a research note on Tuesday. Finally, Baird R W raised shares of BrightView from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.05.

BrightView Stock Performance

BV stock traded down $1.13 on Friday, hitting $14.30. The company’s stock had a trading volume of 829,412 shares, compared to its average volume of 687,818. The firm has a 50 day moving average of $13.57 and a two-hundred day moving average of $11.54. BrightView has a 1 year low of $6.58 and a 1 year high of $15.68. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 71.50 and a beta of 1.29. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.71.

BrightView (NYSE:BV) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $672.90 million during the quarter, compared to the consensus estimate of $683.80 million. BrightView had a net margin of 2.06% and a return on equity of 6.29%. BrightView’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) EPS. Equities analysts predict that BrightView will post 0.65 EPS for the current fiscal year.

Insider Activity at BrightView

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the transaction, the insider now owns 33,133,123 shares in the company, valued at $413,501,375.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.

Institutional Trading of BrightView

A number of hedge funds have recently made changes to their positions in BV. Price T Rowe Associates Inc. MD boosted its holdings in BrightView by 8.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,941 shares of the company’s stock worth $321,000 after purchasing an additional 2,056 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BrightView by 59.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,302 shares of the company’s stock worth $61,000 after purchasing an additional 2,726 shares during the period. Rhumbline Advisers boosted its holdings in BrightView by 5.4% in the second quarter. Rhumbline Advisers now owns 74,280 shares of the company’s stock worth $988,000 after purchasing an additional 3,835 shares during the period. Mackenzie Financial Corp boosted its holdings in BrightView by 17.1% in the fourth quarter. Mackenzie Financial Corp now owns 28,176 shares of the company’s stock worth $237,000 after purchasing an additional 4,124 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in BrightView by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 23,463 shares of the company’s stock worth $198,000 after purchasing an additional 4,624 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

About BrightView

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.