Zacks: Broadwind Energy Inc. (NASDAQ:BWEN) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of Broadwind Energy Inc. (NASDAQ:BWEN) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus target price of $2.75 for the company and are expecting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Broadwind Energy an industry rank of 228 out of 254 based on the ratings given to related companies.

Several analysts have recently issued reports on the stock. ValuEngine raised shares of Broadwind Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Zacks Investment Research raised shares of Broadwind Energy from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Monday, May 11th.

Several hedge funds and other institutional investors have recently made changes to their positions in BWEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Broadwind Energy by 35.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,070 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 6,800 shares during the period. Baird Financial Group Inc. purchased a new stake in Broadwind Energy during the 1st quarter worth $47,000. Essex Investment Management Co. LLC boosted its position in Broadwind Energy by 3.7% during the 4th quarter. Essex Investment Management Co. LLC now owns 422,593 shares of the industrial products company’s stock worth $702,000 after purchasing an additional 14,941 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in Broadwind Energy by 21.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 502,339 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 90,347 shares during the period. Finally, Grace & White Inc. NY boosted its position in Broadwind Energy by 1.1% during the 4th quarter. Grace & White Inc. NY now owns 1,777,746 shares of the industrial products company’s stock worth $2,951,000 after purchasing an additional 19,004 shares during the period. 42.19% of the stock is owned by institutional investors.

BWEN stock traded down $0.08 during midday trading on Friday, hitting $2.08. The stock had a trading volume of 174,052 shares, compared to its average volume of 812,222. The firm has a market cap of $35.94 million, a PE ratio of -14.40 and a beta of 1.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.88 and a quick ratio of 0.30. Broadwind Energy has a 12-month low of $1.12 and a 12-month high of $2.59. The company’s 50-day moving average price is $1.62 and its 200 day moving average price is $1.64.

Broadwind Energy (NASDAQ:BWEN) last released its earnings results on Friday, May 8th. The industrial products company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $48.63 million during the quarter, compared to analysts’ expectations of $49.60 million. Broadwind Energy had a negative net margin of 1.36% and a negative return on equity of 4.24%. As a group, sell-side analysts anticipate that Broadwind Energy will post 0.17 EPS for the current year.

Broadwind Energy Company Profile

Broadwind Energy, Inc provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through three segments: Towers and Heavy Fabrications, Gearing, and Process Systems. The Towers and Heavy Fabrications segment manufactures towers that are designed for various megawatt wind turbines primarily serving wind turbine manufacturers; and fabrications of heavy weldments for mining and other industrial customers.

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