BrightView (NYSE:BV) Hits New 12-Month High – Still a Buy?

BrightView Holdings, Inc. (NYSE:BV)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $17.11 and last traded at $17.11, with a volume of 98928 shares trading hands. The stock had previously closed at $16.52.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BV. The Goldman Sachs Group lifted their price objective on shares of BrightView from $10.00 to $11.30 and gave the stock a “sell” rating in a report on Friday, August 2nd. Loop Capital upgraded shares of BrightView to a “strong-buy” rating in a research note on Tuesday, July 30th. Baird R W upgraded BrightView from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised BrightView from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $17.00 in a research report on Wednesday, August 21st. Finally, Morgan Stanley initiated coverage on BrightView in a research report on Thursday, August 22nd. They issued an “equal weight” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.47.

BrightView Trading Up 5.4 %

The firm has a market capitalization of $1.65 billion, a P/E ratio of 82.60 and a beta of 1.29. The firm has a fifty day simple moving average of $15.41 and a two-hundred day simple moving average of $13.83. 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 quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $738.80 million for the quarter, compared to analysts’ expectations of $736.94 million. BrightView had a return on equity of 6.27% and a net margin of 2.06%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, equities research analysts anticipate that BrightView Holdings, Inc. will post 0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrightView

A number of large investors have recently made changes to their positions in 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 shares of BrightView in the second quarter worth $9,857,000. Dimensional Fund Advisors LP boosted its holdings in shares of BrightView by 28.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,140,676 shares of the company’s stock worth $41,772,000 after acquiring an additional 695,987 shares during the period. Kennedy Capital Management LLC bought a new stake in BrightView during the first quarter valued at $6,673,000. Finally, Roubaix Capital LLC bought a new stake in BrightView during the first quarter valued at $3,518,000. 92.41% of the stock is 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.