BWX Technologies (NYSE:BWXT) Downgraded by Credit Suisse Group

BWX Technologies (NYSE:BWXT) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Wednesday, Price reports. They presently have a $67.00 price objective on the technology company’s stock, down from their prior price objective of $74.00. Credit Suisse Group’s target price would indicate a potential upside of 14.06% from the stock’s previous close.

Separately, Maxim Group lifted their price target on shares of BWX Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.60.

NYSE BWXT opened at $58.74 on Wednesday. The firm has a market capitalization of $5.59 billion, a PE ratio of 20.61, a P/E/G ratio of 3.30 and a beta of 1.01. The business’s 50 day simple moving average is $64.12. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.55. BWX Technologies has a one year low of $49.60 and a one year high of $68.68.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Sunday, May 2nd. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $531.68 million. BWX Technologies had a return on equity of 49.26% and a net margin of 12.94%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. As a group, sell-side analysts predict that BWX Technologies will post 3.11 earnings per share for the current year.

In other news, CEO Rex D. Geveden sold 5,000 shares of the stock in a transaction that occurred on Friday, June 11th. The stock was sold at an average price of $64.11, for a total value of $320,550.00. Following the completion of the sale, the chief executive officer now directly owns 111,727 shares of the company’s stock, valued at $7,162,817.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $63.19, for a total value of $63,190.00. Following the completion of the transaction, the chief financial officer now owns 71,967 shares in the company, valued at approximately $4,547,594.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,600 shares of company stock worth $618,177. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eaton Vance Management bought a new position in BWX Technologies during the 1st quarter valued at $25,000. SOA Wealth Advisors LLC. purchased a new stake in shares of BWX Technologies in the fourth quarter valued at about $34,000. Fieldpoint Private Securities LLC lifted its position in shares of BWX Technologies by 39.7% during the first quarter. Fieldpoint Private Securities LLC now owns 873 shares of the technology company’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in BWX Technologies during the first quarter worth about $77,000. Finally, Wolverine Asset Management LLC bought a new stake in BWX Technologies in the 1st quarter worth about $85,000. 97.20% of the stock is owned by institutional investors and hedge funds.

BWX Technologies Company Profile

BWX Technologies, Inc manufactures and sells nuclear components in the United States, Canada, and internationally. Its Nuclear Operations Group segment offers nuclear components, reactors, assemblies, and fuel for the United States Department of Energy/National Nuclear Security Administration's Naval Nuclear Propulsion Program and other uses; close-tolerance equipment for nuclear applications; research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications.

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