BWX Technologies (NYSE:BWXT) Shares Gap Down After Analyst Downgrade

BWX Technologies, Inc. (NYSE:BWXT) shares gapped down before the market opened on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $111.00 to $110.00. The stock had previously closed at $98.88, but opened at $92.68. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. BWX Technologies shares last traded at $92.75, with a volume of 74,734 shares traded.

A number of other research firms have also issued reports on BWXT. Bank of America boosted their price target on shares of BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Truist Financial restated a “hold” rating and issued a $95.00 target price (down previously from $110.00) on shares of BWX Technologies in a report on Monday, March 25th. Finally, StockNews.com downgraded BWX Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, BWX Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $92.43.

Hedge Funds Weigh In On BWX Technologies

A number of hedge funds have recently modified their holdings of BWXT. Quent Capital LLC increased its position in BWX Technologies by 147.6% in the 1st quarter. Quent Capital LLC now owns 255 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. GAMMA Investing LLC raised its position in BWX Technologies by 77.6% during the first quarter. GAMMA Investing LLC now owns 270 shares of the technology company’s stock valued at $28,000 after acquiring an additional 118 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in BWX Technologies by 1,500.0% in the first quarter. Toth Financial Advisory Corp now owns 320 shares of the technology company’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in BWX Technologies in the fourth quarter worth approximately $25,000. Finally, Riverview Trust Co bought a new position in shares of BWX Technologies during the 1st quarter valued at $56,000. 94.39% of the stock is owned by institutional investors and hedge funds.

BWX Technologies Stock Performance

The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. The firm’s 50 day moving average is $98.52 and its 200-day moving average is $86.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.18 and a current ratio of 2.18.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. BWX Technologies had a return on equity of 32.38% and a net margin of 9.85%. The company had revenue of $603.97 million during the quarter, compared to the consensus estimate of $599.92 million. During the same quarter in the prior year, the company posted $0.70 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that BWX Technologies, Inc. will post 3.14 earnings per share for the current fiscal year.

BWX Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 17th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, May 16th. BWX Technologies’s payout ratio is 35.69%.

About BWX Technologies

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.