KLX (NASDAQ:KLXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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 equities research analysts also recently issued reports on the company. SunTrust Banks restated a “buy” rating and set a $78.00 price objective (up from $65.00) on shares of KLX in a research report on Tuesday, January 2nd. Jefferies Group restated a “hold” rating and set a $63.00 price objective on shares of KLX in a research report on Tuesday, December 26th. Buckingham Research downgraded KLX from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 26th. BidaskClub upgraded KLX from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Cowen restated a “buy” rating and set a $67.00 price objective on shares of KLX in a research report on Thursday, December 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.
Shares of KLX (NASDAQ:KLXI) opened at $68.54 on Friday. KLX has a 52-week low of $42.45 and a 52-week high of $72.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.21 and a current ratio of 6.91. The stock has a market capitalization of $3,452.02, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 3.29 and a beta of 1.26.
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 analysts’ consensus estimates of $0.78 by $0.10. KLX had a return on equity of 5.14% and a net margin of 4.99%. The business had revenue of $456.70 million for the quarter, compared to the consensus estimate of $442.26 million. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. equities research analysts predict that KLX will post 2.86 EPS for the current year.
In other news, 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 $429,867.27. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $123,464.00. Following the completion of the sale, the vice president now owns 13,811 shares in the company, valued at $842,471. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of KLX by 7.7% in the third quarter. Legal & General Group Plc now owns 76,126 shares of the aerospace company’s stock worth $4,032,000 after buying an additional 5,435 shares during the period. Jennison Associates LLC raised its holdings in shares of KLX by 19.7% in the fourth quarter. Jennison Associates LLC now owns 1,022,181 shares of the aerospace company’s stock worth $69,764,000 after buying an additional 168,160 shares during the period. New York State Common Retirement Fund raised its holdings in shares of KLX by 47.9% in the third quarter. New York State Common Retirement Fund now owns 106,202 shares of the aerospace company’s stock worth $5,621,000 after buying an additional 34,400 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of KLX in the fourth quarter worth approximately $1,785,000. Finally, Golden Gate Private Equity Inc. raised its holdings in shares of KLX by 9.0% in the third quarter. Golden Gate Private Equity Inc. now owns 96,513 shares of the aerospace company’s stock worth $5,108,000 after buying an additional 8,000 shares during the period.
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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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