BrightView (NYSE:BV) Shares Gap Up Following Analyst Upgrade

BrightView Holdings, Inc. (NYSE:BV)’s share price gapped up before the market opened on Friday after Loop Capital raised their price target on the stock from $18.00 to $20.00. The stock had previously closed at $15.81, but opened at $16.54. Loop Capital currently has a buy rating on the stock. BrightView shares last traded at $16.23, with a volume of 86,741 shares.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of BrightView from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised BrightView from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $17.00 in a research report on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on BrightView from $11.30 to $12.90 and gave the company a “sell” rating in a research report on Friday. Robert W. Baird boosted their target price on BrightView from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, William Blair upgraded BrightView from a “market perform” rating to an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.41.

Hedge Funds Weigh In On BrightView

A number of hedge funds have recently bought and sold shares of BV. Driehaus Capital Management LLC bought a new position in shares of BrightView in the second quarter worth $13,086,000. Allspring Global Investments Holdings LLC bought a new position in BrightView in the 2nd quarter valued at about $9,857,000. Dimensional Fund Advisors LP raised its position in shares of BrightView by 28.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,140,676 shares of the company’s stock valued at $41,772,000 after buying an additional 695,987 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of BrightView during the 1st quarter worth approximately $6,673,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of BrightView by 150.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 632,394 shares of the company’s stock worth $9,954,000 after acquiring an additional 379,916 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

BrightView Price Performance

The firm has a market capitalization of $1.48 billion, a P/E ratio of 142.32 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $16.23 and its 200-day moving average is $14.67.

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.