KLX Inc. (KLXI) Upgraded at BidaskClub
KLX Inc. (NASDAQ:KLXI) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Several other equities research analysts have also recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $52.00 price objective on shares of KLX in a research report on Wednesday, April 19th. Zacks Investment Research cut shares of KLX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 18th. TheStreet upgraded shares of KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG lifted their price objective on shares of KLX from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.40.
Shares of KLX (NASDAQ KLXI) traded down 0.87% during trading on Friday, reaching $51.45. 341,228 shares of the company traded hands. The company’s 50-day moving average price is $48.97 and its 200-day moving average price is $47.72. The company has a market capitalization of $2.66 billion, a P/E ratio of 41.83 and a beta of 1.27. KLX has a 52 week low of $30.63 and a 52 week high of $53.13.
KLX (NASDAQ:KLXI) last released its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. KLX had a net margin of 4.24% and a return on equity of 3.99%. The company had revenue of $411.30 million for the quarter, compared to analysts’ expectations of $409.95 million. Equities research analysts forecast that KLX will post $3.08 EPS for the current fiscal year.
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In related news, insider Roger Mark Franks sold 2,447 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $47.70, for a total value of $116,721.90. Following the completion of the transaction, the insider now directly owns 21,444 shares of the company’s stock, valued at $1,022,878.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KLXI. BlackRock Inc. raised its position in KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares during the last quarter. Goldman Sachs Group Inc. raised its position in KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares during the last quarter. Norges Bank purchased a new position in KLX during the fourth quarter valued at approximately $37,067,000. Westfield Capital Management Co. LP raised its position in KLX by 266.0% in the first quarter. Westfield Capital Management Co. LP now owns 989,110 shares of the aerospace company’s stock valued at $44,213,000 after buying an additional 718,870 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares during the last quarter.
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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