BrightView (NYSE:BV) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded BrightView from “hold” to “sell.” Analyst sentiment is mixed, with the stock carrying an overall “hold” consensus and a $14.10 average price target.
• BrightView’s latest quarterly results fell short of expectations, reporting $0.17 in EPS versus $0.29 expected and revenue of $717.6 million versus $726.13 million forecast.
• Shares opened at $11.41, below their 50-day and 200-day moving averages, while director William L. Cornog bought 50,000 shares at $11.25; institutional investors own 92.41% of the stock.

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

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded BrightView from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 7th. BTIG Research reissued a "buy" rating and set a $16.00 price target on shares of BrightView in a research report on Monday, May 11th. Robert W. Baird set a $14.00 price target on shares of BrightView in a research report on Wednesday. Morgan Stanley lowered their price target on shares of BrightView from $14.00 to $12.50 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Zacks Research downgraded shares of BrightView from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $14.10.

BrightView Stock Performance

Shares of NYSE:BV opened at $11.41 on Friday. The firm has a 50 day moving average of $13.44 and a 200 day moving average of $12.94. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -45.64 and a beta of 1.18. BrightView has a 52 week low of $10.42 and a 52 week high of $15.82.

BrightView (NYSE:BV - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). BrightView had a net margin of 0.74% and a return on equity of 5.03%. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $726.13 million. During the same period last year, the business posted $0.30 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that BrightView will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightView

In other BrightView news, Director William L. Cornog bought 50,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the purchase, the director directly owned 70,000 shares in the company, valued at $787,500. This represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On BrightView

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BV. Royal Bank of Canada grew its stake in shares of BrightView by 4.7% during the first quarter. Royal Bank of Canada now owns 699,959 shares of the company's stock worth $8,988,000 after acquiring an additional 31,291 shares during the last quarter. AQR Capital Management LLC raised its position in shares of BrightView by 75.9% in the 1st quarter. AQR Capital Management LLC now owns 209,995 shares of the company's stock valued at $2,696,000 after purchasing an additional 90,627 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BrightView by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,443 shares of the company's stock valued at $455,000 after purchasing an additional 2,349 shares during the last quarter. Millennium Management LLC boosted its stake in BrightView by 54.2% in the 1st quarter. Millennium Management LLC now owns 1,456,682 shares of the company's stock worth $18,704,000 after purchasing an additional 512,098 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in BrightView by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,658,306 shares of the company's stock worth $21,293,000 after purchasing an additional 167,966 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

BrightView Company Profile

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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