Traders Buy Shares of B/E Aerospace Inc. (BEAV) on Weakness
Traders purchased 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 companies 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
Several equities analysts have recently commented on BEAV shares. Bank of America Corp. restated a “buy” rating and set a $50.00 price target on shares of B/E Aerospace in a report on Thursday, April 7th. Zacks Investment Research upgraded shares of B/E Aerospace from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Tuesday, April 12th. Royal Bank Of Canada restated a “sector perform” rating and set a $51.00 price target (up from $48.00) on shares of B/E Aerospace in a report on Wednesday, April 27th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective (up from $55.00) on shares of B/E Aerospace in a report on Wednesday, April 27th. Finally, Jefferies Group reiterated a “hold” rating on shares of B/E Aerospace in a report on Tuesday, April 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. B/E Aerospace has a consensus rating of “Buy” and a consensus price target of $53.91.
The firm has a 50-day moving average price of $46.90 and a 200-day moving average price of $45.40. The stock has a market capitalization of $4.69 billion and a PE ratio of 16.41.
B/E Aerospace (NASDAQ:BEAV) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company had revenue of $717 million for the quarter, compared to analyst estimates of $698.02 million. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect 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 the firm’s 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 sale, the vice president now directly owns 33,018 shares in the company, valued at $1,570,666.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Other large investors recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of B/E Aerospace by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,276,707 shares of the company’s stock worth $308,314,000 after buying an additional 117,141 shares during the last quarter. 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 worth $217,667,000 after buying an additional 4,764,740 shares during 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 worth $87,936,000 after buying an additional 741,333 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of B/E Aerospace by 3.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,100,000 shares of the company’s stock worth $46,607,000 after buying an additional 35,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of B/E Aerospace by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 396,890 shares of the company’s stock worth $16,818,000 after buying an additional 39,340 shares during 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).