BidaskClub Lowers KLX (KLXI) to Buy

KLX (NASDAQ:KLXI) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

KLXI has been the topic of several other research reports. Cowen reaffirmed a “buy” rating and issued a $57.00 price target on shares of KLX in a report on Thursday, October 19th. Zacks Investment Research raised shares of KLX from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. SunTrust Banks upped their price target on shares of KLX from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 27th. Buckingham Research cut shares of KLX from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Finally, Jefferies Group reissued a “hold” rating and issued a $63.00 target price on shares of KLX in a research note on Tuesday, December 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.00.

KLX (NASDAQ:KLXI) traded up $1.00 during trading on Wednesday, hitting $72.26. 370,712 shares of the stock traded hands, compared to its average volume of 406,361. The company has a market capitalization of $3,588.98, a PE ratio of 44.33, a P/E/G ratio of 4.37 and a beta of 1.33. KLX has a 52-week low of $42.45 and a 52-week high of $72.27. The company has a current ratio of 6.91, a quick ratio of 2.21 and a debt-to-equity ratio of 0.52.

KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.10. The firm had revenue of $456.70 million for the quarter, compared to analysts’ expectations of $442.26 million. KLX had a net margin of 4.99% and a return on equity of 5.14%. The company’s revenue was up 17.4% on a year-over-year basis. equities research analysts forecast that KLX will post 2.86 EPS for the current year.

In related news, VP Heather Floyd sold 2,024 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $61.00, for a total value of $123,464.00. Following the transaction, the vice president now owns 13,811 shares of the company’s stock, valued at $842,471. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore L. Weise sold 2,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.69, for a total value of $121,380.00. Following the completion of the transaction, the director now directly owns 7,083 shares in the company, valued at approximately $429,867.27. The disclosure for this sale can be found here. 1.77% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KLXI. Wells Fargo & Company MN increased its holdings in shares of KLX by 17.5% in the 2nd quarter. Wells Fargo & Company MN now owns 71,635 shares of the aerospace company’s stock valued at $3,582,000 after acquiring an additional 10,654 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of KLX by 49.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,798 shares of the aerospace company’s stock valued at $240,000 after acquiring an additional 1,598 shares during the period. Nationwide Fund Advisors increased its holdings in shares of KLX by 6.3% in the 2nd quarter. Nationwide Fund Advisors now owns 165,860 shares of the aerospace company’s stock valued at $8,293,000 after acquiring an additional 9,783 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of KLX by 5.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,465 shares of the aerospace company’s stock valued at $523,000 after acquiring an additional 510 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of KLX by 21.5% in the 2nd quarter. New York State Common Retirement Fund now owns 71,802 shares of the aerospace company’s stock valued at $3,590,000 after acquiring an additional 12,729 shares during the period.

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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).

Analyst Recommendations for KLX (NASDAQ:KLXI)

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