Zacks Investment Research upgraded shares of KLX (NASDAQ:KLXI) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $75.00 price objective on the aerospace company’s stock.
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. “
KLXI has been the topic of a number of other reports. Cowen reissued a buy rating and issued a $57.00 price objective on shares of KLX in a report on Thursday, October 19th. BidaskClub raised KLX from a buy rating to a strong-buy rating in a report on Tuesday, January 30th. SunTrust Banks increased their price objective on KLX from $65.00 to $78.00 and gave the company a buy rating in a report on Wednesday, December 27th. Buckingham Research lowered 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 price objective on shares of KLX in a report on Tuesday, December 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. KLX has an average rating of Hold and an average price target of $67.00.
KLX (KLXI) opened at $68.54 on Friday. The company has a quick ratio of 2.21, a current ratio of 6.91 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $3,450.00, a PE ratio of 45.39, a PEG ratio of 3.29 and a beta of 1.26. KLX has a 1-year low of $42.45 and a 1-year high of $72.53.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.10. The business had revenue of $456.70 million for the quarter, compared to analyst estimates of $442.26 million. KLX had a return on equity of 4.56% and a net margin of 5.65%. KLX’s quarterly revenue was up 17.4% compared to the same quarter last year. sell-side analysts anticipate that KLX will post 2.86 EPS for the current fiscal year.
In other news, VP Heather Floyd sold 2,024 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was 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 $842,471. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore L. Weise sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $60.69, for a total value of $121,380.00. Following the completion of the sale, the director now 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.
Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning purchased a new stake in shares of KLX in the fourth quarter worth about $201,000. Cowen Inc. purchased a new stake in shares of KLX in the fourth quarter worth about $205,000. LPL Financial LLC purchased a new stake in shares of KLX in the fourth quarter worth about $206,000. We Are One Seven LLC purchased a new stake in shares of KLX in the fourth quarter worth about $223,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of KLX by 44.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,428 shares of the aerospace company’s stock worth $234,000 after buying an additional 1,060 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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