Zacks Investment Research lowered shares of KLX (NASDAQ:KLXI) from a buy rating to a hold rating in a report published on Tuesday morning.
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. “
A number of other research firms also recently commented on KLXI. SunTrust Banks reiterated a buy rating and set a $82.00 target price on shares of KLX in a research report on Monday, April 23rd. BidaskClub downgraded KLX from a buy rating to a hold rating in a research report on Tuesday, June 5th. TheStreet upgraded KLX from a c+ rating to a b rating in a research report on Monday, April 9th. Finally, Jefferies Financial Group upgraded KLX from a hold rating to a buy rating in a research report on Wednesday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $66.50.
KLX opened at $71.90 on Tuesday, Marketbeat reports. The company has a current ratio of 6.38, a quick ratio of 2.12 and a debt-to-equity ratio of 0.52. KLX has a 1-year low of $45.73 and a 1-year high of $82.50. The company has a market capitalization of $3.69 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 3.10 and a beta of 1.13.
KLX (NASDAQ:KLXI) last posted its earnings results on Tuesday, May 22nd. The aerospace company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.06. The company had revenue of $499.10 million for the quarter, compared to the consensus estimate of $479.50 million. KLX had a return on equity of 6.58% and a net margin of 3.65%. The firm’s revenue was up 21.3% on a year-over-year basis. equities analysts anticipate that KLX will post 4.11 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of KLXI. Brown Advisory Inc. lifted its position in shares of KLX by 9.5% in the first quarter. Brown Advisory Inc. now owns 8,757 shares of the aerospace company’s stock valued at $622,000 after acquiring an additional 759 shares in the last quarter. Redwood Investments LLC lifted its position in shares of KLX by 19.5% in the first quarter. Redwood Investments LLC now owns 326,386 shares of the aerospace company’s stock valued at $23,193,000 after acquiring an additional 53,233 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of KLX by 1.0% in the first quarter. Principal Financial Group Inc. now owns 251,635 shares of the aerospace company’s stock valued at $17,878,000 after acquiring an additional 2,380 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of KLX by 78.0% in the first quarter. Xact Kapitalforvaltning AB now owns 8,216 shares of the aerospace company’s stock valued at $584,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of KLX by 537.9% in the first quarter. Millennium Management LLC now owns 1,809,642 shares of the aerospace company’s stock valued at $128,593,000 after acquiring an additional 1,525,961 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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