BidaskClub Downgrades BWX Technologies, Inc. (BWXT) to Hold
BWX Technologies, Inc. (NYSE:BWXT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts have also recently issued reports on BWXT. Sidoti reaffirmed a “buy” rating and set a $62.00 price target on shares of BWX Technologies in a research note on Wednesday, May 31st. Credit Suisse Group started coverage on shares of BWX Technologies in a research note on Friday, June 9th. They set a “neutral” rating and a $51.00 price target on the stock. Zacks Investment Research cut shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Bank of America Corporation reaffirmed a “buy” rating and set a $55.00 price target on shares of BWX Technologies in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of BWX Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $52.83.
BWX Technologies (NYSE:BWXT) traded up 0.28% during midday trading on Friday, reaching $53.44. 642,914 shares of the company traded hands. BWX Technologies has a 12 month low of $36.16 and a 12 month high of $54.83. The company’s 50-day moving average price is $53.65 and its 200 day moving average price is $49.80. The firm has a market capitalization of $5.31 billion, a PE ratio of 28.25 and a beta of 0.46.
BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, August 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.09. BWX Technologies had a net margin of 11.81% and a return on equity of 107.13%. The company had revenue of $410.01 million for the quarter, compared to analysts’ expectations of $429.38 million. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that BWX Technologies will post $2.03 earnings per share for the current year.
In related news, insider Harbour Group L.P. Blue sold 1,992,829 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.20, for a total value of $106,018,502.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jason S. Kerr sold 1,365 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $54.13, for a total transaction of $73,887.45. Following the completion of the sale, the vice president now directly owns 4,312 shares in the company, valued at $233,408.56. The disclosure for this sale can be found here. Insiders sold 2,009,194 shares of company stock worth $106,899,540 over the last three months. Corporate insiders own 0.76% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in shares of BWX Technologies by 11.2% in the second quarter. Quantbot Technologies LP now owns 2,453 shares of the technology company’s stock worth $119,000 after acquiring an additional 248 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of BWX Technologies in the first quarter worth approximately $124,000. Federated Investors Inc. PA acquired a new stake in shares of BWX Technologies in the second quarter worth approximately $151,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BWX Technologies by 23.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,784 shares of the technology company’s stock worth $184,000 after acquiring an additional 721 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of BWX Technologies in the second quarter worth approximately $193,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.
About BWX Technologies
BWX Technologies, Inc is a manufacturer of nuclear components and a service provider. The Company’s businesses focus on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for the United States Government. Its segments include Nuclear Operations, Technical Services, Nuclear Energy and Other.
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