Zacks Investment Research Upgrades BWX Technologies, Inc. (BWXT) to “Buy”

BWX Technologies, Inc. (NYSE:BWXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $60.00 target price on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.63% from the stock’s current price.

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. “

Several other analysts also recently issued reports on the company. BidaskClub upgraded BWX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Credit Suisse Group initiated coverage on BWX Technologies in a research report on Friday, June 9th. They issued a “neutral” rating and a $51.00 price objective on the stock. Sidoti restated a “buy” rating and issued a $62.00 price objective on shares of BWX Technologies in a research report on Wednesday, May 31st. Finally, Bank of America Corporation restated a “buy” rating and issued a $55.00 price objective on shares of BWX Technologies in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $52.83.

BWX Technologies (NYSE BWXT) opened at 53.75 on Thursday. BWX Technologies has a 12-month low of $36.16 and a 12-month high of $54.53. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 28.41 and a beta of 0.45. The stock’s 50 day moving average price is $50.86 and its 200 day moving average price is $47.78.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.09. BWX Technologies had a return on equity of 107.13% and a net margin of 11.81%. The business had revenue of $410.01 million for the quarter, compared to the consensus estimate of $429.38 million. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that BWX Technologies will post $2.02 EPS for the current fiscal year.

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In related news, insider Harbour Group L.P. Blue sold 3,295,098 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $47.43, for a total transaction of $156,286,498.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in BWX Technologies during the first quarter valued at $4,455,000. Creative Planning increased its position in BWX Technologies by 130.1% in the first quarter. Creative Planning now owns 3,360 shares of the technology company’s stock valued at $160,000 after buying an additional 1,900 shares during the period. Engineers Gate Manager LP acquired a new position in BWX Technologies during the first quarter valued at $931,000. Airain ltd increased its position in BWX Technologies by 81.3% in the first quarter. Airain ltd now owns 15,760 shares of the technology company’s stock valued at $750,000 after buying an additional 7,065 shares during the period. Finally, Teachers Advisors LLC increased its position in BWX Technologies by 17.9% in the fourth quarter. Teachers Advisors LLC now owns 217,933 shares of the technology company’s stock valued at $8,652,000 after buying an additional 33,124 shares during the period. Hedge funds and other institutional investors own 95.44% 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.

Analyst Recommendations for BWX Technologies (NYSE:BWXT)

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