BWX Technologies, Inc. (BWXT) Price Target Raised to $65.00 at Bank of America Corporation
BWX Technologies, Inc. (NYSE:BWXT) had its price target upped by equities researchers at Bank of America Corporation from $60.00 to $65.00 in a research report issued on Thursday. The firm presently has a “buy” rating on the technology company’s stock. Bank of America Corporation’s price objective indicates a potential upside of 14.28% from the stock’s previous close.
A number of other analysts have also recently commented on BWXT. Credit Suisse Group initiated coverage on BWX Technologies in a research report on Friday, June 9th. They set a “neutral” rating and a $51.00 price objective for the company. BidaskClub cut BWX Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research cut BWX Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine upgraded BWX Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $62.00 price objective on shares of BWX Technologies in a research report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. BWX Technologies has a consensus rating of “Buy” and a consensus target price of $57.17.
BWX Technologies (NYSE:BWXT) traded up 3.78% during midday trading on Thursday, hitting $59.03. 1,009,816 shares of the stock were exchanged. BWX Technologies has a one year low of $36.16 and a one year high of $59.07. The stock has a market cap of $5.86 billion, a P/E ratio of 31.20 and a beta of 0.46. The firm has a 50-day moving average price of $54.58 and a 200-day moving average price of $50.66.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $410.01 million during the quarter, compared to analysts’ expectations of $429.38 million. BWX Technologies had a return on equity of 107.13% and a net margin of 11.81%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, equities research analysts anticipate that BWX Technologies will post $2.03 EPS for the current fiscal year.
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In other BWX Technologies news, insider Joseph G. Henry sold 15,000 shares of BWX Technologies stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $53.81, for a total value of $807,150.00. Following the completion of the sale, the insider now owns 10,639 shares in the company, valued at approximately $572,484.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harbour Group L.P. Blue sold 1,992,829 shares of BWX Technologies stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.20, for a total value of $106,018,502.80. The disclosure for this sale can be found here. Insiders sold a total of 2,009,194 shares of company stock valued at $106,899,540 in the last 90 days. 0.76% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in BWX Technologies by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,004,745 shares of the technology company’s stock valued at $390,232,000 after buying an additional 58,159 shares during the period. William Blair Investment Management LLC grew its holdings in BWX Technologies by 11.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,544,781 shares of the technology company’s stock valued at $319,058,000 after buying an additional 691,035 shares during the period. BlackRock Inc. grew its holdings in BWX Technologies by 6.7% in the 2nd quarter. BlackRock Inc. now owns 5,374,992 shares of the technology company’s stock valued at $262,030,000 after buying an additional 336,521 shares during the period. Artisan Partners Limited Partnership grew its holdings in BWX Technologies by 210.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,100,416 shares of the technology company’s stock valued at $199,895,000 after buying an additional 2,781,599 shares during the period. Finally, Capital Research Global Investors grew its holdings in BWX Technologies by 11.1% in the 2nd quarter. Capital Research Global Investors now owns 3,464,262 shares of the technology company’s stock valued at $168,883,000 after buying an additional 345,797 shares during the period. Institutional investors own 96.95% of the company’s stock.
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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