Bank of America Issues Positive Forecast for BWX Technologies (NYSE:BWXT) Stock Price

Key Points

• Bank of America has raised its price target for BWX Technologies from $155.00 to $220.00, reflecting a potential upside of 24.17% based on the latest closing price.
• BWX Technologies reported earnings of $1.02 per share, surpassing analyst expectations and showing a 12.1% increase in revenue year-over-year.
• Insider trading has been notable, with CEO Rex D. Geveden selling 25,000 shares of stock, representing an 11.23% decrease in his ownership.

BWX Technologies (NYSE:BWXT - Get Free Report) had its price target upped by investment analysts at Bank of America from $155.00 to $220.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Bank of America's target price indicates a potential upside of 28.57% from the company's current price.

Other analysts have also issued reports about the company. Maxim Group reaffirmed a "hold" rating on shares of BWX Technologies in a research note on Wednesday, August 6th. CLSA reissued an "outperform" rating and set a $177.60 price target (up from $153.00) on shares of BWX Technologies in a research note on Tuesday, May 27th. Wall Street Zen lowered BWX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial set a $145.00 price target on BWX Technologies and gave the company a "hold" rating in a research note on Tuesday, August 5th. Finally, William Blair reissued an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.51.

BWX Technologies Price Performance

Shares of BWXT traded down $2.39 during trading hours on Wednesday, hitting $171.11. 2,026,980 shares of the company were exchanged, compared to its average volume of 1,128,741. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 3.93 and a beta of 0.73. BWX Technologies has a fifty-two week low of $84.21 and a fifty-two week high of $189.25. The company has a quick ratio of 1.60, a current ratio of 1.69 and a debt-to-equity ratio of 1.28. The firm's fifty day moving average is $148.58 and its 200 day moving average is $121.53.

BWX Technologies (NYSE:BWXT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.23. The business had revenue of $764.00 million for the quarter, compared to analyst estimates of $708.00 million. BWX Technologies had a return on equity of 30.61% and a net margin of 10.28%. BWX Technologies's revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. On average, equities analysts anticipate that BWX Technologies will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rex D. Geveden sold 25,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $179.00, for a total transaction of $4,475,000.00. Following the sale, the chief executive officer owned 197,594 shares of the company's stock, valued at approximately $35,369,326. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Omar Fathi Meguid sold 2,261 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $179.84, for a total value of $406,618.24. Following the completion of the sale, the senior vice president directly owned 2,361 shares in the company, valued at approximately $424,602.24. The trade was a 48.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,953 shares of company stock worth $5,359,758. Company insiders own 0.47% of the company's stock.

Institutional Trading of BWX Technologies

Several hedge funds have recently added to or reduced their stakes in BWXT. Corient Private Wealth LLC boosted its position in shares of BWX Technologies by 1.2% during the second quarter. Corient Private Wealth LLC now owns 5,880 shares of the technology company's stock valued at $847,000 after purchasing an additional 69 shares in the last quarter. HHM Wealth Advisors LLC boosted its position in shares of BWX Technologies by 17.9% during the second quarter. HHM Wealth Advisors LLC now owns 460 shares of the technology company's stock valued at $66,000 after purchasing an additional 70 shares in the last quarter. JT Stratford LLC boosted its position in shares of BWX Technologies by 2.5% during the second quarter. JT Stratford LLC now owns 2,927 shares of the technology company's stock valued at $422,000 after purchasing an additional 72 shares in the last quarter. Intrua Financial LLC boosted its position in shares of BWX Technologies by 3.9% during the first quarter. Intrua Financial LLC now owns 2,625 shares of the technology company's stock valued at $259,000 after purchasing an additional 99 shares in the last quarter. Finally, Utah Retirement Systems boosted its position in shares of BWX Technologies by 2.1% during the fourth quarter. Utah Retirement Systems now owns 4,900 shares of the technology company's stock valued at $546,000 after purchasing an additional 100 shares in the last quarter. 94.39% of the stock is owned by institutional investors.

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.