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

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Zacks Investment Research cut shares of BWX Technologies (NYSE:BWXT) from a buy rating to a hold rating in a research 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 equities research analysts have also recently weighed in on BWXT. Maxim Group reiterated a buy rating and issued a $71.00 target price on shares of BWX Technologies in a report on Wednesday, August 7th. Seaport Global Securities set a $62.00 target price on BWX Technologies and gave the stock a buy rating in a report on Wednesday, August 7th. Barclays set a $55.00 target price on BWX Technologies and gave the stock a sell rating in a report on Tuesday, October 8th. ValuEngine cut BWX Technologies from a buy rating to a hold rating in a report on Thursday, October 10th. Finally, SunTrust Banks set a $55.00 price objective on BWX Technologies and gave the stock a hold rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $59.71.

BWX Technologies stock traded up $0.80 during mid-day 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 50 day moving average of $57.35 and a 200-day moving average of $53.85. The stock has a market cap of $5.74 billion, a PE ratio of 25.53, a P/E/G ratio of 2.68 and a beta of 1.04. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.86 and a current ratio of 1.86. BWX Technologies has a one year low of $35.91 and a one year high of $62.94.

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

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

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

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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