BWX Technologies, Inc. (BWXT) Rating Lowered to Hold at ValuEngine
BWX Technologies, Inc. (NYSE:BWXT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.
BWXT has been the topic of a number of other research reports. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $62.00 price objective on shares of BWX Technologies in a research note on Monday. BidaskClub raised shares of BWX Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $55.00 price target on shares of BWX Technologies in a research report on Thursday, August 10th. Zacks Investment Research upgraded BWX Technologies from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, August 10th. Finally, Credit Suisse Group initiated coverage on BWX Technologies in a research note on Friday, June 9th. They set a “neutral” rating and a $51.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.50.
BWX Technologies (NYSE:BWXT) opened at 57.04 on Monday. BWX Technologies has a 52-week low of $36.16 and a 52-week high of $57.70. The company’s 50-day moving average price is $54.50 and its 200 day moving average price is $50.62. The stock has a market capitalization of $5.67 billion, a P/E ratio of 30.15 and a beta of 0.46.
BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, August 7th. The technology company reported $0.56 earnings per share 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 the consensus estimate of $429.38 million. During the same quarter in the prior year, the company earned $0.44 EPS. BWX Technologies’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that BWX Technologies will post $2.03 earnings per share for the current fiscal year.
In related news, insider Harbour Group L.P. Blue sold 1,992,829 shares of BWX Technologies stock in a transaction 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 at this link. Also, VP Jason S. Kerr sold 1,365 shares of BWX Technologies stock in a transaction on Friday, August 11th. The shares were 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 approximately $233,408.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,009,194 shares of company stock worth $106,899,540 over the last 90 days. Insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BWXT. Quantbot Technologies LP grew 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 valued at $119,000 after purchasing an additional 248 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of BWX Technologies during the first quarter worth about $124,000. Federated Investors Inc. PA purchased a new stake in shares of BWX Technologies during the second quarter worth about $151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of BWX Technologies by 23.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,784 shares of the technology company’s stock worth $184,000 after purchasing an additional 721 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of BWX Technologies during the 2nd quarter worth about $193,000. 96.95% 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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