BrightView (NYSE:BV) Shares Gap Up – Here’s Why

BrightView Holdings, Inc. (NYSE:BV) shares gapped up prior to trading on Wednesday . The stock had previously closed at $13.02, but opened at $13.53. BrightView shares last traded at $13.30, with a volume of 31,619 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on BrightView from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. BTIG Research began coverage on BrightView in a report on Monday, December 2nd. They issued a “buy” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BrightView currently has an average rating of “Moderate Buy” and an average price target of $17.41.

BrightView Price Performance

The stock has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $15.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $1.27 billion, a P/E ratio of 73.61 and a beta of 1.32.

Hedge Funds Weigh In On BrightView

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in shares of BrightView by 1.0% during the 4th quarter. Rhumbline Advisers now owns 82,520 shares of the company’s stock worth $1,319,000 after buying an additional 831 shares during the period. BNP Paribas Financial Markets lifted its position in shares of BrightView by 4.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,184 shares of the company’s stock worth $381,000 after buying an additional 1,056 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of BrightView by 5.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 23,937 shares of the company’s stock worth $383,000 after buying an additional 1,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BrightView by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,094 shares of the company’s stock worth $529,000 after buying an additional 1,278 shares during the period. Finally, New York State Teachers Retirement System lifted its position in shares of BrightView by 32.1% during the 4th quarter. New York State Teachers Retirement System now owns 5,326 shares of the company’s stock worth $85,000 after buying an additional 1,293 shares during the period. 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.