BrightView (NYSE:BV) Hits New 52-Week High – What’s Next?

BrightView Holdings, Inc. (NYSE:BV) hit a new 52-week high during trading on Wednesday . The stock traded as high as $16.33 and last traded at $16.25, with a volume of 185659 shares. The stock had previously closed at $15.88.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Loop Capital raised BrightView to a “strong-buy” rating in a research note on Tuesday, July 30th. Morgan Stanley assumed coverage on BrightView in a research note on Thursday, August 22nd. They set an “equal weight” rating and a $16.00 target price for the company. The Goldman Sachs Group upped their price objective on BrightView from $10.00 to $11.30 and gave the company a “sell” rating in a research note on Friday, August 2nd. Robert W. Baird raised 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, July 30th. Finally, Baird R W raised BrightView from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.47.

BrightView Price Performance

The company has a fifty day moving average of $15.22 and a 200 day moving average of $13.66. The firm has a market capitalization of $1.56 billion, a P/E ratio of 79.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.45 and a quick ratio of 1.45.

BrightView (NYSE:BV) last announced its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. BrightView had a return on equity of 6.27% and a net margin of 2.06%. The business had revenue of $738.80 million for the quarter, compared to analysts’ expectations of $736.94 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that BrightView Holdings, Inc. will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On BrightView

A number of institutional investors and hedge funds have recently modified their holdings of BV. Quadrature Capital Ltd bought a new position in shares of BrightView during the 4th quarter worth approximately $573,000. Empowered Funds LLC lifted its holdings in shares of BrightView by 8.2% in the 1st quarter. Empowered Funds LLC now owns 385,815 shares of the company’s stock worth $4,591,000 after purchasing an additional 29,192 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of BrightView in the 1st quarter worth $155,000. Redmond Asset Management LLC bought a new position in shares of BrightView in the 1st quarter worth $2,281,000. Finally, Sei Investments Co. lifted its holdings in shares of BrightView by 6.1% in the 1st quarter. Sei Investments Co. now owns 238,834 shares of the company’s stock worth $2,842,000 after purchasing an additional 13,756 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

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.