BrightView (NYSE:BV) Shares Gap Down Following Analyst Downgrade

BrightView Holdings, Inc. (NYSE:BV - Get Free Report)'s stock price gapped down before the market opened on Wednesday after Loop Capital lowered their price target on the stock from $21.00 to $20.00. The stock had previously closed at $16.85, but opened at $14.79. Loop Capital currently has a buy rating on the stock. BrightView shares last traded at $14.54, with a volume of 490,456 shares.

Several other analysts have also recently weighed in on BV. Wall Street Zen cut shares of BrightView from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Robert W. Baird lowered their target price on shares of BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.27.

Insider Activity at BrightView

In related news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $14.40, for a total transaction of $167,040,000.00. Following the sale, the insider owned 21,533,123 shares in the company, valued at approximately $310,076,971.20. This trade represents a 35.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BV. Rhumbline Advisers raised its position in BrightView by 1.0% in the fourth quarter. Rhumbline Advisers now owns 82,520 shares of the company's stock valued at $1,319,000 after purchasing an additional 831 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of BrightView by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 50,359 shares of the company's stock valued at $805,000 after buying an additional 4,430 shares during the period. Telemark Asset Management LLC increased its stake in shares of BrightView by 6.3% in the fourth quarter. Telemark Asset Management LLC now owns 850,000 shares of the company's stock valued at $13,592,000 after buying an additional 50,000 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in BrightView by 5.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 358,436 shares of the company's stock valued at $5,731,000 after buying an additional 19,382 shares during the last quarter. Finally, Monimus Capital Management LP acquired a new stake in BrightView during the 4th quarter worth approximately $1,413,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

BrightView Trading Up 3.6%

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -784.11 and a beta of 1.27. The firm's 50-day moving average is $15.64 and its 200 day moving average is $14.79.

BrightView (NYSE:BV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $662.60 million for the quarter, compared to analyst estimates of $643.29 million. BrightView had a net margin of 1.65% and a return on equity of 8.29%. BrightView's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, equities analysts predict that BrightView Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

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.