BidaskClub cut shares of KLX Inc. (NASDAQ:KLXI) from a buy rating to a hold rating in a report published on Monday, July 24th.
A number of other brokerages have also recently issued reports on KLXI. Zacks Investment Research raised KLX from a hold rating to a strong-buy rating and set a $56.00 price objective for the company in a report on Saturday, July 1st. Deutsche Bank AG lifted their price objective on KLX from $51.00 to $52.00 and gave the company a hold rating in a report on Wednesday, April 19th. Cowen and Company restated a buy rating and issued a $52.00 target price on shares of KLX in a research note on Monday, July 17th. Finally, TheStreet upgraded KLX from a c+ rating to a b- rating in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. KLX has a consensus rating of Buy and an average target price of $55.40.
KLX (KLXI) opened at 49.02 on Monday. KLX has a 52-week low of $32.23 and a 52-week high of $54.40. The stock’s 50 day moving average is $51.44 and its 200 day moving average is $48.85. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 39.85 and a beta of 1.28.
KLX (NASDAQ:KLXI) last issued its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. The company had revenue of $411.30 million during the quarter, compared to analysts’ expectations of $409.95 million. KLX had a return on equity of 3.99% and a net margin of 4.24%. On average, analysts predict that KLX will post $3.08 earnings per share for the current fiscal year.
In related news, insider Roger Mark Franks sold 2,447 shares of KLX stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $47.70, for a total value of $116,721.90. Following the completion of the sale, the insider now directly owns 21,444 shares in the company, valued at $1,022,878.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 3,163 shares of company stock valued at $153,553. Corporate insiders own 1.77% of the company’s stock.
Several institutional investors have recently bought and sold shares of KLXI. Proxima Capital Management LLC raised its position in KLX by 14.7% in the second quarter. Proxima Capital Management LLC now owns 195,000 shares of the aerospace company’s stock valued at $9,750,000 after buying an additional 25,000 shares during the last quarter. Verition Fund Management LLC bought a new position in KLX during the second quarter valued at about $322,000. Sterling Capital Management LLC raised its position in KLX by 5.0% in the second quarter. Sterling Capital Management LLC now owns 73,945 shares of the aerospace company’s stock valued at $3,697,000 after buying an additional 3,500 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in KLX by 23.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 50,617 shares of the aerospace company’s stock valued at $2,478,000 after buying an additional 9,738 shares during the last quarter. Finally, Sciencast Management LP raised its position in KLX by 4.3% in the second quarter. Sciencast Management LP now owns 4,714 shares of the aerospace company’s stock valued at $236,000 after buying an additional 196 shares during the last quarter.
KLX Company Profile
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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