Zacks Investment Research upgraded shares of KLX (NASDAQ:KLXI) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $75.00 price objective on the aerospace company’s stock.
According to Zacks, “KLX Inc. is a distributor and service provider of aerospace fasteners and consumables. The Company operates in two segments: Aerospace Solutions Group and Energy Services Group. The Aerospace Solutions Group provides fasteners, consumable products, and logistics services to aerospace customers. The Energy Services Group provides services and logistics for oil and gas drilling sites. It also provides aerospace hardware, and inventory management services. KLX Inc. is based in United States. “
KLXI has been the topic of several other research reports. ValuEngine downgraded KLX from a buy rating to a hold rating in a research note on Friday, December 1st. BidaskClub downgraded KLX from a strong-buy rating to a buy rating in a research note on Wednesday, February 7th. Buckingham Research downgraded KLX from a buy rating to a neutral rating in a research note on Tuesday, December 26th. SunTrust Banks reissued a buy rating and issued a $78.00 price target (up previously from $65.00) on shares of KLX in a research note on Tuesday, January 2nd. Finally, Cowen reissued a buy rating and issued a $57.00 price target on shares of KLX in a research note on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $67.00.
Shares of KLX (KLXI) traded up $0.97 during trading on Friday, reaching $68.54. The company had a trading volume of 614,115 shares, compared to its average volume of 357,754. KLX has a twelve month low of $42.45 and a twelve month high of $72.53. The firm has a market cap of $3,403.13, a P/E ratio of 42.05, a PEG ratio of 3.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.91 and a quick ratio of 2.21.
KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. KLX had a return on equity of 5.14% and a net margin of 4.99%. The firm had revenue of $456.70 million for the quarter, compared to the consensus estimate of $442.26 million. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. equities research analysts predict that KLX will post 2.86 EPS for the current fiscal year.
In other news, VP Heather Floyd sold 2,024 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $61.00, for a total value of $123,464.00. Following the completion of the transaction, the vice president now owns 13,811 shares in the company, valued at approximately $842,471. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore L. Weise sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.69, for a total value of $121,380.00. Following the completion of the transaction, the director now owns 7,083 shares of the company’s stock, valued at approximately $429,867.27. The disclosure for this sale can be found here. 1.77% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. We Are One Seven LLC bought a new position in shares of KLX in the 4th quarter valued at about $223,000. Pier Capital LLC bought a new position in shares of KLX in the 4th quarter valued at about $9,047,000. MetLife Investment Advisors LLC bought a new position in shares of KLX in the 4th quarter valued at about $3,785,000. Cowen Inc. bought a new position in shares of KLX in the 4th quarter valued at about $205,000. Finally, Macquarie Group Ltd. grew its holdings in shares of KLX by 88.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,329,922 shares of the aerospace company’s stock valued at $90,767,000 after acquiring an additional 623,959 shares in the last quarter.
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KLX Company Profile
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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