BWX Technologies (NYSE:BWXT) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of BWX Technologies (NYSE:BWXT) from a hold rating to a buy rating in a research note 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. “

A number of other brokerages have also recently commented on BWXT. Seaport Global Securities set a $62.00 price target on BWX Technologies and gave the stock a buy rating in a research report on Wednesday, August 7th. Maxim Group reissued a buy rating and issued 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 BWX Technologies and gave the stock a sell rating in a research report on Tuesday, October 8th. ValuEngine cut 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 price target on BWX Technologies and gave the stock 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 three have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $59.71.

Shares of BWXT traded up $0.80 during mid-day trading on Thursday, reaching $61.01. The company had a trading volume of 390,943 shares, 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 firm has a 50-day moving average price of $57.35 and a 200 day moving average price of $53.85. BWX Technologies has a 52 week low of $35.91 and a 52 week high of $62.94. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.04.

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

In related news, CFO David S. Black sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $54.73, for a total value of $54,730.00. Following the transaction, the chief financial officer now directly owns 75,161 shares of the company’s stock, valued at approximately $4,113,561.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.44% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. MML Investors Services LLC lifted its position in BWX Technologies by 14.1% in the 2nd quarter. MML Investors Services LLC now owns 6,307 shares of the technology company’s stock valued at $329,000 after acquiring an additional 777 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in BWX Technologies by 9.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,147 shares of the technology company’s stock valued at $164,000 after acquiring an additional 259 shares in the last quarter. Virginia Retirement Systems ET AL lifted its position in BWX Technologies by 1.1% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 17,700 shares of the technology company’s stock valued at $1,013,000 after acquiring an additional 200 shares in the last quarter. CIBC Asset Management Inc bought a new position in BWX Technologies in the 3rd quarter valued at approximately $208,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in BWX Technologies by 13.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,656,977 shares of the technology company’s stock valued at $86,328,000 after acquiring an additional 190,041 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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