BrightView (NYSE:BV) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded BrightView from “hold” to “strong sell”, adding to a mixed analyst backdrop for the stock.
• Despite the downgrade, BrightView recently reported better-than-expected quarterly results, with EPS of $0.09 versus $0.08 expected and revenue of $702.9 million versus $638.8 million estimated.
• The stock was trading around $14.41, and MarketBeat shows a consensus rating of “Hold” with an average price target of $14.52.

BrightView (NYSE:BV - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of BrightView in a research report on Monday, May 4th. JPMorgan Chase & Co. upgraded BrightView from an "underweight" rating to a "neutral" rating and raised their price target for the company from $13.00 to $14.00 in a research report on Thursday, May 7th. Oppenheimer began coverage on BrightView in a report on Wednesday, June 17th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, BTIG Research restated a "buy" rating and issued a $16.00 target price on shares of BrightView in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.52.

BrightView Trading Up 0.5%

Shares of BV opened at $14.41 on Tuesday. The firm's 50 day simple moving average is $13.20 and its 200 day simple moving average is $12.88. The company has a market capitalization of $1.34 billion, a P/E ratio of -205.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.23 and a quick ratio of 1.23. BrightView has a 1-year low of $11.06 and a 1-year high of $16.52.

BrightView (NYSE:BV - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $702.90 million during the quarter, compared to analysts' expectations of $638.80 million. BrightView had a net margin of 1.70% and a return on equity of 7.25%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. Sell-side analysts forecast that BrightView will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of BrightView

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of BrightView by 4.7% in the first quarter. Royal Bank of Canada now owns 699,959 shares of the company's stock worth $8,988,000 after purchasing an additional 31,291 shares during the last quarter. AQR Capital Management LLC boosted its position in BrightView by 75.9% during the 1st quarter. AQR Capital Management LLC now owns 209,995 shares of the company's stock valued at $2,696,000 after buying an additional 90,627 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BrightView by 7.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,443 shares of the company's stock valued at $455,000 after buying an additional 2,349 shares during the period. Millennium Management LLC grew its holdings 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 acquiring an additional 512,098 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of BrightView by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,658,306 shares of the company's stock valued at $21,293,000 after acquiring an additional 167,966 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

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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