KLX (NASDAQ:KLXI) was downgraded by equities researchers at Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday, December 26th, Marketbeat Ratings reports.
Other equities research analysts have also recently issued reports about the company. SunTrust Banks boosted their target price on KLX to $65.00 in a research note on Thursday, December 7th. BidaskClub raised KLX from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Cowen reissued a “buy” rating and issued a $67.00 target price on shares of KLX in a research note on Thursday, December 14th. 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. Finally, ValuEngine cut KLX from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.80.
Shares of KLX (KLXI) opened at $70.71 on Tuesday. 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 52-week low of $42.45 and a 52-week high of $71.20. The company has a market capitalization of $3,570.00, a P/E ratio of 46.83, a price-to-earnings-growth ratio of 4.02 and a beta of 1.32.
KLX (NASDAQ:KLXI) last issued its quarterly earnings data on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The firm had revenue of $456.70 million during the quarter, compared to the consensus estimate of $442.26 million. KLX had a return on equity of 5.14% and a net margin of 4.99%. The company’s revenue was up 17.4% on a year-over-year basis. sell-side analysts expect that KLX will post 2.85 earnings per share for the current fiscal year.
In related news, VP Heather Floyd sold 2,024 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $61.00, for a total transaction of $123,464.00. Following the sale, the vice president now owns 13,811 shares of the company’s stock, valued at $842,471. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore L. Weise sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.69, for a total value of $121,380.00. Following the sale, 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 insiders.
A number of large investors have recently modified their holdings of KLXI. Dimensional Fund Advisors LP lifted its stake in KLX by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,242,416 shares of the aerospace company’s stock worth $162,119,000 after purchasing an additional 566,921 shares during the last quarter. FMR LLC lifted its stake in KLX by 15.9% during the second quarter. FMR LLC now owns 1,566,933 shares of the aerospace company’s stock worth $78,347,000 after purchasing an additional 214,625 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in KLX by 15.6% during the third quarter. Bank of New York Mellon Corp now owns 984,481 shares of the aerospace company’s stock worth $52,108,000 after purchasing an additional 132,982 shares during the last quarter. Royce & Associates LP bought a new stake in KLX during the third quarter worth $6,997,000. Finally, Macquarie Group Ltd. lifted its stake in KLX by 20.5% during the second quarter. Macquarie Group Ltd. now owns 745,847 shares of the aerospace company’s stock worth $37,292,000 after purchasing an additional 126,690 shares during the last quarter.
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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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