KLX Inc. (NASDAQ:KLXI)‘s stock had its “buy” rating restated by equities researchers at Cowen and Company in a note issued to investors on Monday, July 17th. They currently have a $52.00 target price on the aerospace company’s stock. Cowen and Company’s target price would indicate a potential upside of 2.93% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of KLX from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 18th. BidaskClub lowered shares of KLX from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. TheStreet raised shares of KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Finally, Deutsche Bank AG upped their target price on shares of KLX from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.40.
Shares of KLX (NASDAQ:KLXI) traded up 1.81% on Monday, hitting $50.52. The company’s stock had a trading volume of 331,337 shares. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 41.07 and a beta of 1.28. The stock’s 50 day moving average is $51.06 and its 200-day moving average is $48.82. KLX has a 52 week low of $32.23 and a 52 week high of $54.40.
KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. KLX had a net margin of 4.24% and a return on equity of 3.99%. The business had revenue of $411.30 million during the quarter, compared to analyst estimates of $409.95 million. On average, equities research analysts anticipate that KLX will post $3.08 earnings per share for the current year.
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In related news, insider Roger Mark Franks sold 2,447 shares of KLX stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $47.70, for a total transaction of $116,721.90. Following the sale, the insider now directly owns 21,444 shares in the company, valued at approximately $1,022,878.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 3,163 shares of company stock worth $153,553. 1.77% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in KLXI. Advisor Group Inc. raised its stake in shares of KLX by 131.3% in the second quarter. Advisor Group Inc. now owns 6,572 shares of the aerospace company’s stock worth $329,000 after buying an additional 3,731 shares during the period. Suntrust Banks Inc. raised its stake in KLX by 3.9% in the second quarter. Suntrust Banks Inc. now owns 9,185 shares of the aerospace company’s stock valued at $458,000 after buying an additional 346 shares during the last quarter. California Public Employees Retirement System raised its stake in KLX by 2.2% in the second quarter. California Public Employees Retirement System now owns 112,100 shares of the aerospace company’s stock valued at $5,605,000 after buying an additional 2,400 shares during the last quarter. FMR LLC increased its position in shares of KLX by 15.9% in the second quarter. FMR LLC now owns 1,566,933 shares of the aerospace company’s stock worth $78,347,000 after buying an additional 214,625 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of KLX by 0.3% in the second quarter. Vanguard Group Inc. now owns 4,303,889 shares of the aerospace company’s stock worth $215,194,000 after buying an additional 11,596 shares during the period.
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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