Zacks Investment Research Upgrades KLX (NASDAQ:KLXI) to “Buy”

Zacks Investment Research upgraded shares of KLX (NASDAQ:KLXI) from a sell rating to a buy rating in a research report sent to investors on Thursday, March 15th. Zacks Investment Research currently has $80.00 price target 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. “

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A number of other equities research analysts have also weighed in on KLXI. BidaskClub upgraded shares of KLX from a buy rating to a strong-buy rating in a report on Tuesday, January 30th. ValuEngine lowered shares of KLX from a buy rating to a hold rating in a report on Friday, December 1st. TheStreet lowered shares of KLX from a b rating to a c+ rating in a research note on Tuesday, March 6th. Jefferies Group raised shares of KLX from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, Cowen reissued a buy rating and set a $57.00 target price on shares of KLX in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. KLX currently has an average rating of Buy and a consensus target price of $68.00.

KLXI traded down $1.24 during trading on Thursday, hitting $69.69. The company’s stock had a trading volume of 362,531 shares, compared to its average volume of 344,732. The company has a market capitalization of $3,599.00, a PE ratio of 25.34, a PEG ratio of 3.06 and a beta of 1.18. KLX has a one year low of $44.14 and a one year high of $73.21. The company has a current ratio of 7.06, a quick ratio of 2.17 and a debt-to-equity ratio of 0.52.

KLX (NASDAQ:KLXI) last posted its earnings results on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19. KLX had a net margin of 3.07% and a return on equity of 6.03%. The company had revenue of $442.20 million during the quarter, compared to analysts’ expectations of $450.87 million. The firm’s revenue was up 18.4% compared to the same quarter last year. equities analysts forecast that KLX will post 4.07 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of KLX by 5.0% in the fourth quarter. BlackRock Inc. now owns 6,876,627 shares of the aerospace company’s stock valued at $469,328,000 after purchasing an additional 324,638 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of KLX by 9.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,552,418 shares of the aerospace company’s stock valued at $188,030,000 after purchasing an additional 310,002 shares during the period. Paradice Investment Management LLC boosted its stake in shares of KLX by 2.6% in the third quarter. Paradice Investment Management LLC now owns 1,528,146 shares of the aerospace company’s stock valued at $80,885,000 after purchasing an additional 39,236 shares during the period. Macquarie Group Ltd. boosted its stake in shares of KLX by 88.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,329,922 shares of the aerospace company’s stock valued at $90,767,000 after purchasing an additional 623,959 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of KLX by 19.7% in the fourth quarter. Jennison Associates LLC now owns 1,022,181 shares of the aerospace company’s stock valued at $69,764,000 after purchasing an additional 168,160 shares during the period. 98.44% of the stock is owned by hedge funds and other institutional investors.

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KLX Company Profile

KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. It operates in two segments, Aerospace Solutions Group (ASG) and Energy Services Group (ESG). The ASG segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; and bearings, tooling, electrical components, and clamps.

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