KLX Inc (NASDAQ:KLXI) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $63.24 and last traded at $62.41, with a volume of 461500 shares changing hands. The stock had previously closed at $62.09.
KLXI has been the subject of a number of analyst reports. Jefferies Group reiterated a “hold” rating and set a $51.00 price objective (down from $55.00) on shares of KLX in a report on Thursday, August 24th. Cowen reissued an “outperform” rating and set a $55.00 price target (up from $52.00) on shares of KLX in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of KLX from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. ValuEngine lowered shares of KLX from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub lowered shares of KLX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $59.80.
The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.21 and a current ratio of 6.91. The stock has a market capitalization of $3,127.14, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.64 and a beta of 1.31.
In other KLX news, Director Theodore L. Weise sold 2,000 shares of KLX stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.69, for a total value of $121,380.00. Following the sale, the director now owns 7,083 shares of the company’s stock, valued at $429,867.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Heather Floyd sold 2,024 shares of KLX stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $61.00, for a total transaction of $123,464.00. Following the completion of the sale, the vice president now directly owns 13,811 shares in the company, valued at approximately $842,471. The disclosure for this sale can be found here. 1.77% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in KLXI. Jennison Associates LLC bought a new stake in KLX in the second quarter worth about $39,567,000. Dimensional Fund Advisors LP raised its position in KLX by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,242,416 shares of the aerospace company’s stock worth $162,119,000 after acquiring an additional 566,921 shares during the period. FMR LLC increased its stake 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 purchasing an additional 214,625 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of KLX by 15.6% in the third quarter. Bank of New York Mellon Corp now owns 984,481 shares of the aerospace company’s stock worth $52,108,000 after purchasing an additional 132,982 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in shares of KLX in the third quarter worth about $6,997,000.
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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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