Wall Street Zen Upgrades BrightView (NYSE:BV) to "Hold"

Key Points

• Wall Street Zen upgraded BrightView from “Sell” to “Hold,” bringing the stock in line with the broader analyst consensus of “Hold” and an average price target of $14.10.
• BrightView’s latest quarterly results fell short of expectations: adjusted earnings were $0.17 per share versus the $0.29 consensus, while revenue reached $717.6 million, up 1.3% year over year but below estimates.
• The stock opened at $11.14, near the lower end of its $10.42–$15.00 one-year range. Director William Cornog purchased 50,000 shares, while institutional investors own 92.41% of the company.

BrightView (NYSE:BV - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on BV. Robert W. Baird set a $14.00 price target on shares of BrightView in a research report on Wednesday, August 5th. Zacks Research cut shares of BrightView from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Morgan Stanley reduced their price objective on shares of BrightView from $14.00 to $12.50 and set an "equal weight" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of BrightView in a report on Friday, July 31st. Finally, Oppenheimer initiated coverage on shares of BrightView in a research report on Wednesday, June 17th. They issued an "outperform" rating and a $17.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.10.

BrightView Trading Up 1.3%

NYSE:BV opened at $11.14 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -44.58, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. BrightView has a one year low of $10.42 and a one year high of $15.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.28 and a current ratio of 1.28. The business's 50-day simple moving average is $12.49 and its 200 day simple moving average is $12.56.

BrightView (NYSE:BV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.12). BrightView had a net margin of 0.74% and a return on equity of 5.03%. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $726.13 million. During the same quarter last year, the business earned $0.30 EPS. BrightView's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that BrightView will post 0.4 earnings per share for the current fiscal year.

Insider Activity at BrightView

In other news, Director William Cornog purchased 50,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the acquisition, the director owned 70,000 shares of the company's stock, valued at $787,500. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightView

Several large investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new stake in BrightView in the 2nd quarter valued at about $3,126,000. Bessemer Group Inc. boosted its stake in BrightView by 5.6% during the 1st quarter. Bessemer Group Inc. now owns 1,879,712 shares of the company's stock valued at $22,162,000 after purchasing an additional 99,103 shares during the period. Dimensional Fund Advisors LP boosted its stake in BrightView by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,268,756 shares of the company's stock valued at $62,118,000 after purchasing an additional 192,376 shares during the period. Algert Global LLC grew its position in BrightView by 1,141.5% in the 2nd quarter. Algert Global LLC now owns 476,749 shares of the company's stock worth $6,756,000 after purchasing an additional 438,349 shares during the last quarter. Finally, BlackRock Inc. bought a new position in BrightView in the 2nd quarter worth about $80,091,000. 92.41% of the stock is currently owned by institutional investors.

About BrightView

BrightView Inc NYSE: BV is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company's core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView's service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.

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