KLX Inc (KLXI) Downgraded to “Hold” at Zacks Investment Research
KLX Inc (NASDAQ:KLXI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.
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. “
A number of other brokerages have also recently commented on KLXI. Cowen and Company reiterated an “outperform” rating and issued a $52.00 target price on shares of KLX in a research report on Wednesday, April 19th. Gabelli initiated coverage on shares of KLX in a report on Friday, January 20th. They issued a “buy” rating and a $64.00 price target on the stock. Deutsche Bank AG raised their price target on shares of KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, SunTrust Banks, Inc. began coverage on shares of KLX in a research note on Thursday, January 19th. They set a “buy” rating and a $53.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $52.67.
Shares of KLX (NASDAQ:KLXI) traded down 0.074% during mid-day trading on Thursday, reaching $46.975. The company had a trading volume of 53,877 shares. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 51.060 and a beta of 1.27. KLX has a one year low of $28.65 and a one year high of $52.40. The stock has a 50 day moving average of $46.69 and a 200-day moving average of $45.52.
KLX (NASDAQ:KLXI) last posted its quarterly earnings data on Tuesday, March 7th. The aerospace company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.17. The firm had revenue of $382 million during the quarter, compared to analyst estimates of $399.10 million. KLX had a net margin of 1.68% and a return on equity of 3.92%. Equities analysts predict that KLX will post $1.73 EPS for the current year.
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In other KLX news, VP Michael F. Senft sold 2,328 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $47.19, for a total value of $109,858.32. Following the completion of the transaction, the vice president now directly owns 18,653 shares in the company, valued at $880,235.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Staley Capital Advisers Inc. increased its stake in KLX by 0.9% in the third quarter. Staley Capital Advisers Inc. now owns 232,500 shares of the aerospace company’s stock worth $8,184,000 after buying an additional 2,000 shares during the last quarter. Teachers Advisors LLC increased its stake in KLX by 1.0% in the third quarter. Teachers Advisors LLC now owns 84,201 shares of the aerospace company’s stock worth $2,964,000 after buying an additional 812 shares during the last quarter. California State Teachers Retirement System increased its stake in KLX by 0.8% in the third quarter. California State Teachers Retirement System now owns 111,906 shares of the aerospace company’s stock worth $3,939,000 after buying an additional 900 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in KLX during the third quarter worth about $898,000. Finally, Russell Investments Group Ltd. acquired a new stake in KLX during the fourth quarter worth about $4,050,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.
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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