BrightView (NYSE:BV) Price Target Raised to $11.30

BrightView (NYSE:BV) had its target price lifted by stock analysts at The Goldman Sachs Group from $10.00 to $11.30 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 21.03% from the company’s current price.

BV has been the topic of several other reports. Robert W. Baird upgraded BrightView from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $13.00 to $17.00 in a research note on Tuesday. Loop Capital raised BrightView to a “strong-buy” rating in a research note on Tuesday. Finally, Baird R W raised BrightView from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, BrightView presently has an average rating of “Moderate Buy” and a consensus price target of $14.06.

BrightView Price Performance

Shares of BV traded down $1.12 during midday trading on Friday, reaching $14.31. The stock had a trading volume of 304,047 shares, compared to its average volume of 684,269. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $1.35 billion, a P/E ratio of 71.75 and a beta of 1.29. The firm’s 50 day moving average price is $13.57 and its 200-day moving average price is $11.54. BrightView has a 52 week low of $6.58 and a 52 week high of $15.68.

BrightView (NYSE:BV) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. BrightView had a return on equity of 6.29% and a net margin of 2.06%. The business had revenue of $672.90 million for the quarter, compared to the consensus estimate of $683.80 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. BrightView’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts forecast that BrightView will post 0.65 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of BrightView 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 directly owns 33,133,123 shares of the company’s stock, valued at $413,501,375.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On BrightView

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

BrightView Company Profile

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.