BrightView (NYSE:BV) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• BrightView shares moved above their 50-day moving average, reaching $10.89 and last trading near $10.83, while remaining below the 200-day average of $12.36.
• Analyst sentiment is mixed but averages to “Hold”, with a consensus price target of $13.93. Recent actions included Morgan Stanley cutting its target to $11.50, while Zacks Research and Wall Street Zen upgraded the stock to Hold.
• BrightView’s latest quarter fell short of expectations, reporting $0.17 in EPS versus $0.29 forecast and revenue of $717.6 million versus $726.1 million expected. A company director nevertheless purchased 50,000 shares at $11.25, and institutional investors own 92.41% of the stock.

BrightView Holdings, Inc. (NYSE:BV - Get Free Report) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $10.78 and traded as high as $10.89. BrightView shares last traded at $10.8250, with a volume of 831,080 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a "sell (d+)" rating on shares of BrightView in a report on Friday, July 31st. Morgan Stanley reduced their target price on BrightView from $12.50 to $11.50 and set an "equal weight" rating on the stock in a report on Tuesday, October 13th. Zacks Research upgraded BrightView from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Wall Street Zen raised BrightView from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird set a $14.00 target price on BrightView in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, BrightView has an average rating of "Hold" and an average target price of $13.93.

BrightView Stock Performance

The company has a market capitalization of $1.01 billion, a PE ratio of -43.30 and a beta of 1.20. The business's 50-day moving average is $10.78 and its 200-day moving average is $12.36.

BrightView (NYSE:BV - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.12). The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $726.13 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. BrightView's quarterly revenue was up 1.3% compared to the same quarter last year. Analysts expect that BrightView Holdings, Inc. will post 0.40 EPS for the current year.

Insider Activity at BrightView

In related news, Director William Cornog acquired 50,000 shares of BrightView stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average price of $11.25 per share, with a total value of $562,500.00. Following the transaction, the director directly owned 70,000 shares in the company, valued at approximately $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 the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BrightView

Several hedge funds have recently added to or reduced their stakes in BV. Public Employees Retirement System of Ohio purchased a new stake in shares of BrightView in the second quarter worth $41,000. Inspire Investing LLC boosted its stake in BrightView by 17.8% in the 1st quarter. Inspire Investing LLC now owns 43,556 shares of the company's stock worth $514,000 after purchasing an additional 6,583 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in BrightView in the 1st quarter worth about $145,000. Mcmorgan & Co. LLC purchased a new stake in BrightView during the 2nd quarter valued at about $176,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in BrightView during the 2nd quarter valued at about $182,000. 92.41% of the stock is owned by institutional investors.

BrightView Company Profile

BrightView Holdings, Inc NYSE: BV is a provider of commercial landscaping services in the United States. Through its maintenance operations, the company helps businesses, government facilities, sports venues, education campuses, healthcare properties and other organizations manage and maintain outdoor spaces.

BrightView's services include landscape design and development, ongoing landscape maintenance, tree care, irrigation management, water conservation and snow and ice removal. Its landscape development work can include the installation of plants, turf, hardscapes, irrigation systems and other outdoor features, while its maintenance services are intended to support the appearance, health and functionality of managed properties.

The company was formed in 2014 through the combination of Brickman and ValleyCrest, two established landscaping businesses, and became a publicly traded company in 2018.

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