Research Analysts Set Expectations for KLX Inc’s FY2018 Earnings (KLXI)

KLX Inc (NASDAQ:KLXI) – Investment analysts at SunTrust Banks raised their FY2018 earnings per share estimates for shares of KLX in a research report issued to clients and investors on Friday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will post earnings per share of $2.86 for the year, up from their prior forecast of $2.83. SunTrust Banks has a “Buy” rating and a $78.00 price target on the stock. SunTrust Banks also issued estimates for KLX’s Q4 2018 earnings at $0.81 EPS.

KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.10. KLX had a return on equity of 5.14% and a net margin of 4.99%. The business had revenue of $456.70 million for the quarter, compared to analysts’ expectations of $442.26 million. The business’s revenue for the quarter was up 17.4% on a year-over-year basis.

Several other research analysts have also recently commented on KLXI. BidaskClub upgraded KLX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. ValuEngine cut KLX from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Cowen reiterated a “buy” rating and issued a $57.00 price target on shares of KLX in a research note on Wednesday, December 6th. Buckingham Research cut KLX from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 26th. Finally, Zacks Investment Research upgraded KLX from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. KLX currently has an average rating of “Buy” and an average price target of $65.00.

KLX (NASDAQ KLXI) opened at $71.23 on Monday. The company has a quick ratio of 2.21, a current ratio of 6.91 and a debt-to-equity ratio of 0.52. KLX has a one year low of $42.45 and a one year high of $71.42. The company has a market capitalization of $3,587.47, a PE ratio of 43.70, a P/E/G ratio of 4.37 and a beta of 1.33.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new stake in KLX during the fourth quarter valued at approximately $201,000. Victory Capital Management Inc. bought a new position in shares of KLX during the third quarter valued at approximately $205,000. Shelton Capital Management bought a new position in shares of KLX during the second quarter valued at approximately $200,000. Cubist Systematic Strategies LLC bought a new position in shares of KLX during the third quarter valued at approximately $217,000. Finally, Sciencast Management LP grew its holdings 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 last quarter.

In other KLX news, Director Theodore L. Weise sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.69, for a total transaction of $121,380.00. Following the sale, the director now owns 7,083 shares in the company, valued at $429,867.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Heather Floyd sold 2,024 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $61.00, for a total value of $123,464.00. Following the sale, the vice president now owns 13,811 shares in the company, valued at approximately $842,471. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.

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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).

Earnings History and Estimates for KLX (NASDAQ:KLXI)

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