B/E Aerospace Inc. (BEAV) Shares Gap Up to $47.07
B/E Aerospace Inc. (NASDAQ:BEAV)’s share price gapped up before the market opened on Monday . The stock had previously closed at $46.93, but opened at $47.07. B/E Aerospace shares last traded at $47.97, with a volume of 222,021 shares changing hands.
A number of equities research analysts have recently commented on BEAV shares. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of B/E Aerospace in a research report on Wednesday, April 27th. Zacks Investment Research upgraded B/E Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, June 29th. Morgan Stanley started coverage on B/E Aerospace in a research report on Thursday, June 23rd. They set an “equal weight” rating for the company. Jefferies Group reiterated a “hold” rating on shares of B/E Aerospace in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. downgraded B/E Aerospace from an “overweight” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Thursday, May 26th. Five investment 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 price target of $53.60.
The company has a market cap of $4.88 billion and a price-to-earnings ratio of 16.59. The firm has a 50-day moving average price of $46.34 and a 200-day moving average price of $46.33.
B/E Aerospace (NASDAQ:BEAV) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company earned $753 million during the quarter, compared to analyst estimates of $714.04 million. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that B/E Aerospace Inc. will post $3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, August 11th.
In other B/E Aerospace news, VP Ryan M. Patch sold 950 shares of B/E Aerospace stock in a transaction on Friday, May 27th. The shares were 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 approximately $1,570,666.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors have recently made changes to their positions in the company. Andra AP fonden boosted its position in shares of B/E Aerospace by 95.2% in the fourth quarter. Andra AP fonden now owns 40,400 shares of the company’s stock worth $1,712,000 after buying an additional 19,700 shares in the last quarter. US Bancorp DE boosted its position in shares of B/E Aerospace by 8.0% in the fourth quarter. US Bancorp DE now owns 44,377 shares of the company’s stock worth $1,879,000 after buying an additional 3,294 shares in the last quarter. KBC Group NV boosted its position in shares of B/E Aerospace by 59.3% in the fourth quarter. KBC Group NV now owns 107,452 shares of the company’s stock worth $4,553,000 after buying an additional 39,990 shares in the last quarter. Broadview Advisors LLC boosted its position in shares of B/E Aerospace by 46.1% in the fourth quarter. Broadview Advisors LLC now owns 143,850 shares of the company’s stock worth $6,095,000 after buying an additional 45,400 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of B/E Aerospace by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 334,992 shares of the company’s stock worth $14,194,000 after buying an additional 4,703 shares in the last quarter.
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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