Zacks Investment Research upgraded shares of BWX Technologies (NYSE:BWXT) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. The firm currently has $63.00 price target on the technology company’s stock.
According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “
A number of other brokerages have also recently commented on BWXT. ValuEngine cut shares of BWX Technologies from a buy rating to a hold rating in a research report on Thursday, October 10th. Maxim Group reiterated a buy rating and set a $71.00 price target on shares of BWX Technologies in a research report on Wednesday, August 7th. Barclays set a $55.00 price target on shares of BWX Technologies and gave the company a sell rating in a research report on Tuesday, October 8th. Seaport Global Securities set a $62.00 price target on shares of BWX Technologies and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, SunTrust Banks set a $55.00 price target on shares of BWX Technologies and gave the company a hold rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. BWX Technologies has a consensus rating of Hold and an average target price of $57.38.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 5th. The technology company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.10. BWX Technologies had a net margin of 11.60% and a return on equity of 83.20%. The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $440.45 million. During the same period in the prior year, the business earned $0.58 earnings per share. BWX Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that BWX Technologies will post 2.49 EPS for the current fiscal year.
In other news, CFO David S. Black sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $59.11, for a total transaction of $59,110.00. Following the completion of the sale, the chief financial officer now owns 76,161 shares of the company’s stock, valued at $4,501,876.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John A. Fees sold 60,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $57.15, for a total value of $3,429,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,000 shares of company stock valued at $3,599,510. Insiders own 0.44% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BWXT. Schroder Investment Management Group boosted its stake in shares of BWX Technologies by 87.6% during the second quarter. Schroder Investment Management Group now owns 1,442,966 shares of the technology company’s stock valued at $75,178,000 after purchasing an additional 673,606 shares during the period. William Blair Investment Management LLC lifted its stake in BWX Technologies by 10.4% in the second quarter. William Blair Investment Management LLC now owns 7,012,266 shares of the technology company’s stock worth $365,339,000 after acquiring an additional 659,488 shares during the period. Nuveen Asset Management LLC purchased a new stake in BWX Technologies in the second quarter worth $12,999,000. Invesco Ltd. lifted its stake in BWX Technologies by 16.9% in the second quarter. Invesco Ltd. now owns 1,594,660 shares of the technology company’s stock worth $83,082,000 after acquiring an additional 231,113 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in BWX Technologies by 13.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,656,977 shares of the technology company’s stock worth $86,328,000 after acquiring an additional 190,041 shares during the period.
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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