KLX (KLXI) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of KLX (NASDAQ:KLXI) from a hold rating to a buy rating in a report issued on Thursday.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of KLX from a buy rating to a hold rating in a research note on Tuesday. SunTrust Banks downgraded shares of KLX from a buy rating to a hold rating and set a $53.00 price target for the company. in a research note on Wednesday, May 2nd. TheStreet raised shares of KLX from a c+ rating to a b rating in a research note on Monday, April 9th. Finally, Jefferies Financial Group raised shares of KLX from a hold rating to a buy rating in a research note on Wednesday, March 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $66.50.

KLX traded down $0.79, hitting $71.90, during mid-day trading on Thursday, Marketbeat Ratings reports. The company’s stock had a trading volume of 477,124 shares, compared to its average volume of 579,937. The company has a quick ratio of 2.12, a current ratio of 6.38 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.68 billion, a PE ratio of 26.15, a P/E/G ratio of 3.10 and a beta of 1.13. KLX has a 12 month low of $45.73 and a 12 month high of $82.50.

KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Tuesday, May 22nd. The aerospace company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $499.10 million during the quarter, compared to the consensus estimate of $479.50 million. KLX had a net margin of 3.65% and a return on equity of 6.58%. KLX’s quarterly revenue was up 21.3% compared to the same quarter last year. equities analysts expect that KLX will post 4.11 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in KLXI. Millennium Management LLC increased its position in shares of KLX by 537.9% in the first quarter. Millennium Management LLC now owns 1,809,642 shares of the aerospace company’s stock valued at $128,593,000 after acquiring an additional 1,525,961 shares during the period. Macquarie Group Ltd. increased its position 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 acquiring an additional 623,959 shares during the period. BlackRock Inc. increased its position in shares of KLX by 5.0% in the first quarter. BlackRock Inc. now owns 7,220,359 shares of the aerospace company’s stock valued at $513,079,000 after acquiring an additional 343,732 shares during the period. First Eagle Investment Management LLC increased its position in shares of KLX by 21.2% in the first quarter. First Eagle Investment Management LLC now owns 1,119,280 shares of the aerospace company’s stock valued at $79,536,000 after acquiring an additional 195,900 shares during the period. Finally, Deutsche Bank AG increased its position in shares of KLX by 134.8% in the fourth quarter. Deutsche Bank AG now owns 290,842 shares of the aerospace company’s stock valued at $19,848,000 after acquiring an additional 166,957 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

KLX Company Profile

KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group 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; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.

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