Investors Buy B/E Aerospace Inc. (BEAV) on Weakness
Traders bought shares of B/E Aerospace Inc. (NASDAQ:BEAV) on weakness during trading on Friday. $14.70 million flowed into the stock on the tick-up and $5.08 million flowed out of the stock on the tick-down, for a money net flow of $9.62 million into the stock. Of all stocks tracked, B/E Aerospace had the 27th highest net in-flow for the day. B/E Aerospace traded down ($0.33) for the day and closed at $45.89
BEAV has been the subject of a number of recent research reports. Zacks Investment Research raised B/E Aerospace from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, April 12th. Morgan Stanley initiated coverage on B/E Aerospace in a report on Thursday, June 23rd. They issued an “equal weight” rating for the company. Bank of America Corp. reaffirmed a “buy” rating and issued a $50.00 target price on shares of B/E Aerospace in a report on Thursday, April 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of B/E Aerospace in a report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. cut B/E Aerospace from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $54.00 to $50.00 in a report on Friday, May 20th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. B/E Aerospace presently has an average rating of “Buy” and an average target price of $53.60.
The firm has a market cap of $4.69 billion and a P/E ratio of 16.41. The company’s 50 day moving average is $46.90 and its 200 day moving average is $45.40.
B/E Aerospace (NASDAQ:BEAV) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The business had revenue of $717 million for the quarter, compared to the consensus estimate of $698.02 million. During the same period in the prior year, the business posted $0.74 EPS. B/E Aerospace’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that B/E Aerospace Inc. will post $3.26 earnings per share for the current year.
In related news, VP Ryan M. Patch sold 950 shares of B/E Aerospace stock in a transaction on Friday, May 27th. The stock was sold at an average price of $47.57, for a total transaction of $45,191.50. Following the completion of the sale, the vice president now owns 33,018 shares of the company’s stock, valued at $1,570,666.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of large investors have bought and sold shares of BEAV. Principal Financial Group Inc. raised its stake in B/E Aerospace by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 334,992 shares of the company’s stock valued at $14,194,000 after buying an additional 4,703 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of B/E Aerospace by 55.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,075,442 shares of the company’s stock valued at $87,936,000 after buying an additional 741,333 shares during the period. Deimos Asset Management LLC purchased a new stake in shares of B/E Aerospace during the fourth quarter valued at about $1,271,000. Morgan Stanley raised its stake in shares of B/E Aerospace by 1,279.0% in the fourth quarter. Morgan Stanley now owns 5,137,273 shares of the company’s stock valued at $217,667,000 after buying an additional 4,764,740 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in shares of B/E Aerospace by 2.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 31,263 shares of the company’s stock valued at $1,325,000 after buying an additional 600 shares during the period.
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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