KLX (KLXI) Rating Increased to Buy at Zacks Investment Research

KLX (NASDAQ:KLXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $77.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.07% from the company’s current price.

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. “

Several other equities analysts have also recently commented on KLXI. BidaskClub upgraded shares of KLX from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine cut shares of KLX from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Cowen restated a “buy” rating and set a $57.00 price target on shares of KLX in a report on Wednesday, December 6th. Buckingham Research cut shares of KLX from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Finally, SunTrust Banks boosted their price target on shares of KLX to $65.00 in a report on Thursday, December 7th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $67.40.

KLX (KLXI) opened at $68.10 on Friday. KLX has a 52-week low of $42.45 and a 52-week high of $72.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.21 and a current ratio of 6.91. The firm has a market cap of $3,440.91, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 3.27 and a beta of 1.26.

KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.78 by $0.10. KLX had a net margin of 4.99% and a return on equity of 5.14%. The business had revenue of $456.70 million for the quarter, compared to analysts’ expectations of $442.26 million. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. equities analysts anticipate that KLX will post 2.86 earnings per share for the current year.

In related news, VP Heather Floyd sold 2,024 shares of KLX stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $61.00, for a total value of $123,464.00. Following the completion of the sale, the vice president now owns 13,811 shares of the company’s stock, valued at approximately $842,471. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Theodore L. Weise sold 2,000 shares of KLX stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.69, for a total transaction of $121,380.00. Following the completion of the sale, the director now directly 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 currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in KLX by 5.0% during the 4th quarter. BlackRock Inc. now owns 6,876,627 shares of the aerospace company’s stock worth $469,328,000 after acquiring an additional 324,638 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in KLX by 9.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,552,418 shares of the aerospace company’s stock worth $188,030,000 after acquiring an additional 310,002 shares during the last quarter. Paradice Investment Management LLC lifted its position in KLX by 2.6% during the 3rd quarter. Paradice Investment Management LLC now owns 1,528,146 shares of the aerospace company’s stock worth $80,885,000 after acquiring an additional 39,236 shares during the last quarter. Macquarie Group Ltd. lifted its position in KLX by 88.4% during the 4th quarter. Macquarie Group Ltd. now owns 1,329,922 shares of the aerospace company’s stock worth $90,767,000 after acquiring an additional 623,959 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in KLX by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,060,718 shares of the aerospace company’s stock worth $56,144,000 after acquiring an additional 22,761 shares during the last quarter.

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About KLX

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).

Analyst Recommendations for KLX (NASDAQ:KLXI)

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