KLX Inc. (KLXI) Lifted to “Hold” at Zacks Investment Research
KLX Inc. (NASDAQ:KLXI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other brokerages also recently weighed in on KLXI. BidaskClub upgraded KLX from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Jefferies Group LLC restated a “hold” rating and set a $51.00 target price (down from $55.00) on shares of KLX in a research note on Thursday, August 24th. Finally, Cowen and Company restated a “buy” rating and set a $52.00 target price on shares of KLX in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $55.40.
Shares of KLX (KLXI) traded up 0.47% during mid-day trading on Tuesday, reaching $55.10. The company’s stock had a trading volume of 193,174 shares. KLX has a 52 week low of $33.17 and a 52 week high of $55.76. The firm has a 50-day moving average of $51.92 and a 200-day moving average of $49.97. The firm has a market capitalization of $2.83 billion, a PE ratio of 37.23 and a beta of 1.32.
KLX (NASDAQ:KLXI) last announced its earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $430.60 million during the quarter, compared to the consensus estimate of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts forecast that KLX will post $3.07 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC lifted its position in shares of KLX by 76.4% during the second quarter. LS Investment Advisors LLC now owns 3,218 shares of the aerospace company’s stock worth $100,000 after purchasing an additional 1,394 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of KLX by 5.8% during the third quarter. First Mercantile Trust Co. now owns 2,900 shares of the aerospace company’s stock worth $102,000 after purchasing an additional 160 shares during the last quarter. Tyers Asset Management LLC bought a new position in shares of KLX during the fourth quarter worth about $111,000. Creative Planning lifted its position in shares of KLX by 0.3% during the second quarter. Creative Planning now owns 3,600 shares of the aerospace company’s stock worth $112,000 after purchasing an additional 10 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of KLX during the second quarter worth about $114,000.
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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