BWX Technologies (NYSE:BWXT) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of BWX Technologies (NYSE:BWXT) from a buy rating to a hold rating in a report released on Friday, Zacks.com reports.

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 research firms also recently weighed in on BWXT. Barclays set a $55.00 target price on BWX Technologies and gave the company a sell rating in a research report on Tuesday, October 8th. Seaport Global Securities set a $62.00 target price on BWX Technologies and gave the company a buy rating in a research report on Wednesday, August 7th. Maxim Group restated a buy rating and issued a $71.00 target price on shares of BWX Technologies in a research report on Wednesday, August 7th. ValuEngine downgraded BWX Technologies from a buy rating to a hold rating in a research report on Thursday, October 10th. Finally, SunTrust Banks set a $55.00 target price on BWX Technologies and gave the company a hold rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $59.71.

BWXT traded up $0.80 during trading on Friday, hitting $61.01. The company’s stock had a trading volume of 390,943 shares, compared to its average volume of 527,980. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.40. BWX Technologies has a twelve month low of $35.91 and a twelve month high of $62.94. The business’s fifty day simple moving average is $57.35 and its 200 day simple moving average is $53.85. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 2.68 and a beta of 1.04.

BWX Technologies (NYSE:BWXT) last released its earnings results on Monday, November 4th. The technology company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.14. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $486.02 million. BWX Technologies had a return on equity of 90.98% and a net margin of 10.93%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. As a group, equities research analysts forecast that BWX Technologies will post 2.55 earnings per share for the current fiscal year.

In other news, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $59.11, for a total value of $59,110.00. Following the transaction, the chief financial officer now owns 76,161 shares in the company, valued at $4,501,876.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC purchased a new position in BWX Technologies during the second quarter worth approximately $30,000. NumerixS Investment Technologies Inc purchased a new position in BWX Technologies during the second quarter worth approximately $31,000. Private Ocean LLC purchased a new position in BWX Technologies during the third quarter worth approximately $43,000. Selective Wealth Management Inc. purchased a new position in BWX Technologies during the third quarter worth approximately $57,000. Finally, Huntington National Bank lifted its position in BWX Technologies by 50.3% during the second quarter. Huntington National Bank now owns 1,127 shares of the technology company’s stock worth $59,000 after buying an additional 377 shares in the last quarter.

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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