Bank of America upgraded shares of BWX Technologies (NYSE:BWXT) from a neutral rating to a buy rating in a report published on Thursday, The Fly reports. Bank of America currently has $70.00 price target on the technology company’s stock, up from their previous price target of $60.00.
A number of other research firms also recently issued reports on BWXT. BofA Securities upgraded BWX Technologies from a neutral rating to a buy rating and increased their price objective for the stock from $60.00 to $70.00 in a report on Thursday. Zacks Investment Research downgraded BWX Technologies from a buy rating to a hold rating in a report on Tuesday, October 6th. Finally, Maxim Group increased their price objective on BWX Technologies from $62.00 to $72.00 and gave the stock a buy rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $68.57.
BWXT opened at $57.93 on Thursday. The stock has a fifty day simple moving average of $57.31 and a two-hundred day simple moving average of $55.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.72. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.95 and a beta of 0.99. BWX Technologies has a 12-month low of $40.40 and a 12-month high of $70.57.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 3rd. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. The business had revenue of $505.00 million during the quarter, compared to the consensus estimate of $458.25 million. BWX Technologies had a return on equity of 68.61% and a net margin of 13.44%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, analysts predict that BWX Technologies will post 2.91 EPS for the current year.
In related news, insider Joel W. Duling sold 1,700 shares of BWX Technologies stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $58.00, for a total value of $98,600.00. Following the completion of the sale, the insider now directly owns 16,309 shares in the company, valued at approximately $945,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David S. Black sold 1,000 shares of BWX Technologies stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $58.00, for a total value of $58,000.00. Following the completion of the sale, the chief financial officer now owns 76,551 shares of the company’s stock, valued at $4,439,958. The disclosure for this sale can be found here. Insiders have sold 8,600 shares of company stock valued at $486,364 over the last 90 days. Corporate insiders own 0.46% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd bought a new stake in BWX Technologies in the 2nd quarter worth about $38,000. Advisors Asset Management Inc. bought a new stake in BWX Technologies in the 2nd quarter worth about $45,000. Private Advisor Group LLC bought a new stake in BWX Technologies in the 2nd quarter worth about $52,000. WASHINGTON TRUST Co bought a new stake in BWX Technologies in the 2nd quarter worth about $65,000. Finally, Cerebellum GP LLC bought a new stake in BWX Technologies in the 2nd quarter worth about $128,000. Institutional investors own 98.50% of the company’s stock.
BWX Technologies Company Profile
BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.
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