Shares of Babcock International Group PLC (LON:BAB – Get Free Report) shot up 7.1% on Thursday . The stock traded as high as GBX 498.20 ($6.58) and last traded at GBX 498.20 ($6.58). 3,549,035 shares traded hands during mid-day trading, an increase of 129% from the average session volume of 1,547,653 shares. The stock had previously closed at GBX 465.20 ($6.15).
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BAB. Berenberg Bank cut shares of Babcock International Group to a “hold” rating and upped their price objective for the stock from GBX 510 ($6.74) to GBX 565 ($7.46) in a research report on Wednesday, July 17th. Bank of America reiterated a “buy” rating and set a GBX 660 ($8.72) price target on shares of Babcock International Group in a research report on Monday, September 2nd. Finally, Shore Capital reiterated a “buy” rating on shares of Babcock International Group in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 585.80 ($7.74).
View Our Latest Analysis on BAB
Babcock International Group Trading Down 2.4 %
Babcock International Group Increases Dividend
The company also recently declared a dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, August 22nd will be paid a dividend of GBX 3.30 ($0.04) per share. This is an increase from Babcock International Group’s previous dividend of $1.70. This represents a dividend yield of 0.68%. The ex-dividend date is Thursday, August 22nd. Babcock International Group’s payout ratio is currently 1,562.50%.
Insider Activity
In other news, insider David Lockwood sold 395,007 shares of Babcock International Group stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of GBX 529 ($6.99), for a total transaction of £2,089,587.03 ($2,760,352.75). In other Babcock International Group news, insider David Lockwood sold 395,007 shares of Babcock International Group stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of GBX 529 ($6.99), for a total value of £2,089,587.03 ($2,760,352.75). Also, insider David Mellors sold 276,512 shares of Babcock International Group stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of GBX 501 ($6.62), for a total value of £1,385,325.12 ($1,830,019.97). Insiders own 0.76% of the company’s stock.
Babcock International Group Company Profile
Babcock International Group PLC, together with its subsidiaries, provides value-add services for aerospace, defense, and security in the United Kingdom, rest of Europe, Africa, North America, Australasia, and internationally. The company operates through four segments: Marine, Nuclear, Land, and Aviation.
Featured Stories
- Five stocks we like better than Babcock International Group
- 3 REITs to Buy and Hold for the Long Term
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- Roth IRA Calculator: Calculate Your Potential Returns
- MarketBeat Week in Review – 9/16 – 9/20
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Don’t Miss These 3 Retail Stocks for Fall Gains
Receive News & Ratings for Babcock International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Babcock International Group and related companies with MarketBeat.com's FREE daily email newsletter.