BrightView (NYSE:BV) Shares Up 6.6% - Here's What Happened

BrightView Holdings, Inc. (NYSE:BV - Get Free Report)'s share price shot up 6.6% during mid-day trading on Tuesday . The company traded as high as $13.14 and last traded at $13.08. 419,986 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 616,758 shares. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BV. William Blair raised shares of BrightView from a "market perform" rating to an "outperform" rating in a research report on Friday, November 15th. Loop Capital lifted their price objective on shares of BrightView from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. BTIG Research began coverage on shares of BrightView in a research report on Monday, December 2nd. They issued a "buy" rating and a $22.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of BrightView from $11.30 to $12.90 and gave the stock a "sell" rating in a research report on Friday, November 15th. Finally, Morgan Stanley lifted their price objective on shares of BrightView from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.41.

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BrightView Stock Performance

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.26 billion, a PE ratio of 73.58 and a beta of 1.32. The firm's fifty day moving average price is $14.57 and its two-hundred day moving average price is $15.69.

Institutional Investors Weigh In On BrightView

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in BrightView by 17.1% in the 3rd quarter. State Street Corp now owns 1,211,909 shares of the company's stock worth $19,075,000 after acquiring an additional 177,105 shares in the last quarter. Barclays PLC grew its holdings in shares of BrightView by 133.6% during the third quarter. Barclays PLC now owns 111,969 shares of the company's stock worth $1,762,000 after buying an additional 64,035 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of BrightView during the third quarter worth $723,000. Telemark Asset Management LLC grew its holdings in shares of BrightView by 14.3% during the third quarter. Telemark Asset Management LLC now owns 800,000 shares of the company's stock worth $12,592,000 after buying an additional 100,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of BrightView by 18.2% during the third quarter. Geode Capital Management LLC now owns 1,337,545 shares of the company's stock worth $21,057,000 after buying an additional 206,359 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

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.