Zacks Investment Research downgraded shares of KLX Inc. (NASDAQ:KLXI) from a buy rating to a hold rating in a report released on Wednesday, August 9th.
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. “
Other research analysts have also issued research reports about the company. Cowen and Company reaffirmed an outperform rating and set a $52.00 price objective on shares of KLX in a research report on Wednesday, April 19th. BidaskClub upgraded KLX from a buy rating to a strong-buy rating in a research note on Wednesday, June 14th. TheStreet upgraded KLX from a c+ rating to a b- rating in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG lifted their target price on KLX from $51.00 to $52.00 and gave the company a hold rating in a research report on Wednesday, April 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $55.40.
Shares of KLX (NASDAQ KLXI) traded down 0.37% during trading on Wednesday, hitting $49.02. The stock had a trading volume of 345,720 shares. KLX has a 52 week low of $32.23 and a 52 week high of $54.40. The firm has a 50-day moving average price of $51.44 and a 200 day moving average price of $48.85. The company has a market capitalization of $2.54 billion, a PE ratio of 39.85 and a beta of 1.28.
KLX (NASDAQ:KLXI) last announced its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. KLX had a return on equity of 3.99% and a net margin of 4.24%. The firm had revenue of $411.30 million during the quarter, compared to analyst estimates of $409.95 million. Equities analysts anticipate that KLX will post $3.08 earnings per share for the current year.
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In other KLX news, insider Roger Mark Franks sold 2,447 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $47.70, for a total transaction of $116,721.90. Following the completion of the sale, the insider now owns 21,444 shares in the company, valued at $1,022,878.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 3,163 shares of company stock valued at $153,553 in the last quarter. 1.77% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in KLXI. Teachers Advisors LLC increased its position in KLX by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 93,164 shares of the aerospace company’s stock valued at $4,203,000 after buying an additional 8,963 shares during the last quarter. Capstone Asset Management Co. increased its position in KLX by 3.3% in the first quarter. Capstone Asset Management Co. now owns 7,817 shares of the aerospace company’s stock valued at $349,000 after buying an additional 250 shares during the last quarter. Louisiana State Employees Retirement System increased its position in KLX by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the aerospace company’s stock valued at $595,000 after buying an additional 300 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of KLX by 17.4% in the first quarter. Nationwide Fund Advisors now owns 156,077 shares of the aerospace company’s stock valued at $6,977,000 after buying an additional 23,095 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in KLX by 21.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 400,793 shares of the aerospace company’s stock valued at $17,915,000 after buying an additional 71,370 shares during the last quarter.
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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