BWX Technologies (NYSE:BWXT) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of BWX Technologies (NYSE:BWXT) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $68.00 target price 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. “

Several other research firms also recently commented on BWXT. Maxim Group reaffirmed a buy rating and set a $71.00 price objective on shares of BWX Technologies in a report on Wednesday, August 7th. SunTrust Banks set a $55.00 price objective on shares of BWX Technologies and gave the company a hold rating in a report on Wednesday, August 7th. ValuEngine downgraded shares of BWX Technologies from a buy rating to a hold rating in a report on Thursday, October 10th. Barclays set a $55.00 price objective on shares of BWX Technologies and gave the company a sell rating in a report on Tuesday, October 8th. Finally, Seaport Global Securities set a $62.00 price target on BWX Technologies and gave the company a buy 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 stock. The stock presently has an average rating of Hold and a consensus target price of $59.71.

BWXT traded up $0.80 during mid-day trading on Thursday, reaching $61.01. 390,943 shares of the stock were exchanged, compared to its average volume of 527,980. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $5.74 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.04. The company has a 50 day moving average price of $57.35 and a two-hundred day moving average price of $53.85. BWX Technologies has a 1 year low of $35.91 and a 1 year high of $62.94.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.14. The company had revenue of $506.00 million for the quarter, compared to the consensus estimate of $486.02 million. BWX Technologies had a net margin of 10.93% and a return on equity of 90.98%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts expect that BWX Technologies will post 2.55 EPS for the current fiscal year.

In other BWX Technologies news, CFO David S. Black sold 1,000 shares of the company’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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.44% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC purchased a new stake in shares of BWX Technologies during the second quarter valued at approximately $30,000. NumerixS Investment Technologies Inc purchased a new stake in shares of BWX Technologies during the second quarter valued at approximately $31,000. Private Ocean LLC purchased a new stake in shares of BWX Technologies during the third quarter valued at approximately $43,000. Selective Wealth Management Inc. purchased a new stake in shares of BWX Technologies during the third quarter valued at approximately $57,000. Finally, Huntington National Bank boosted its stake in shares of BWX Technologies by 50.3% during the second quarter. Huntington National Bank now owns 1,127 shares of the technology company’s stock valued at $59,000 after purchasing an additional 377 shares during the period.

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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