BWX Technologies (BWXT) Given New $46.00 Price Target at Credit Suisse Group

BWX Technologies (NYSE:BWXT) had its price target lowered by Credit Suisse Group from $60.00 to $46.00 in a research report released on Thursday, The Fly reports. The firm currently has a neutral rating on the technology company’s stock.

BWXT has been the subject of several other reports. SunTrust Banks decreased their price objective on shares of BWX Technologies from $83.00 to $79.00 and set a buy rating for the company in a research report on Tuesday, August 21st. Zacks Investment Research upgraded shares of BWX Technologies from a sell rating to a hold rating in a research report on Wednesday, October 17th. ValuEngine cut shares of BWX Technologies from a hold rating to a sell rating in a research report on Wednesday. Finally, Bank of America decreased their price objective on shares of BWX Technologies from $70.00 to $58.00 and set a neutral rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. BWX Technologies has an average rating of Hold and a consensus target price of $62.38.

Shares of BWXT traded up $0.78 during trading hours on Thursday, hitting $47.23. 95,617 shares of the stock were exchanged, compared to its average volume of 469,053. BWX Technologies has a fifty-two week low of $44.50 and a fifty-two week high of $72.18. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.72. The stock has a market cap of $6.05 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.22). BWX Technologies had a return on equity of 68.96% and a net margin of 10.81%. The firm had revenue of $425.50 million for the quarter, compared to analyst estimates of $461.26 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that BWX Technologies will post 2.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 20th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Monday, November 19th. BWX Technologies’s payout ratio is 31.22%.

In other BWX Technologies news, VP Jason S. Kerr sold 1,365 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $64.06, for a total value of $87,441.90. Following the completion of the sale, the vice president now directly owns 9,132 shares in the company, valued at $584,995.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $62.40, for a total transaction of $62,400.00. Following the completion of the sale, the chief financial officer now owns 70,570 shares of the company’s stock, valued at $4,403,568. The disclosure for this sale can be found here. Insiders sold 4,365 shares of company stock valued at $269,062 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Large investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in BWX Technologies in the second quarter worth $4,090,000. Oakbrook Investments LLC acquired a new stake in BWX Technologies in the third quarter worth $383,000. HPM Partners LLC grew its holdings in BWX Technologies by 104.4% in the second quarter. HPM Partners LLC now owns 26,853 shares of the technology company’s stock worth $1,673,000 after purchasing an additional 13,715 shares during the period. Verition Fund Management LLC acquired a new stake in BWX Technologies in the second quarter worth $859,000. Finally, Northern Trust Corp grew its holdings in BWX Technologies by 6.6% in the second quarter. Northern Trust Corp now owns 511,543 shares of the technology company’s stock worth $31,879,000 after purchasing an additional 31,894 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

About BWX Technologies

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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