KLX (KLXI) Cut to “Hold” at BidaskClub

KLX (NASDAQ:KLXI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

KLXI has been the subject of a number of other reports. ValuEngine lowered KLX from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered KLX from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen reiterated an “outperform” rating and set a $55.00 price target (up from $52.00) on shares of KLX in a report on Thursday, August 24th. Finally, Jefferies Group reiterated a “hold” rating and set a $51.00 price target (down from $55.00) on shares of KLX in a report on Thursday, August 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. KLX presently has an average rating of “Hold” and a consensus price target of $55.40.

KLX (KLXI) opened at $53.91 on Wednesday. KLX has a 1-year low of $41.92 and a 1-year high of $56.69. The company has a market capitalization of $2,770.00 and a P/E ratio of 29.13. The company has a current ratio of 7.28, a quick ratio of 2.27 and a debt-to-equity ratio of 0.52.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of KLX by 1.4% during the second quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after purchasing an additional 43 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of KLX by 0.6% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,105 shares of the aerospace company’s stock valued at $282,000 after purchasing an additional 56 shares during the period. Sciencast Management LP increased its position in shares of KLX by 4.3% during the second quarter. Sciencast Management LP now owns 4,714 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of KLX by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock valued at $118,000 after purchasing an additional 206 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of KLX by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 42,909 shares of the aerospace company’s stock valued at $2,145,000 after purchasing an additional 328 shares during the period.

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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).

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