World Kinect (NYSE:WKC) Stock Rating Upgraded by Zacks Research

World Kinect (NYSE:WKC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, World Kinect presently has an average rating of “Reduce” and an average target price of $28.75.

World Kinect Stock Performance

Shares of NYSE WKC opened at $26.02 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.45 billion, a P/E ratio of -3.36, a P/E/G ratio of 1.18 and a beta of 1.13. World Kinect has a 12 month low of $22.70 and a 12 month high of $31.54. The stock has a 50 day moving average of $24.74 and a 200-day moving average of $25.66.

Institutional Trading of World Kinect

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in World Kinect by 12.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 174,715 shares of the company’s stock valued at $4,097,000 after purchasing an additional 18,704 shares during the period. GF Fund Management CO. LTD. boosted its stake in shares of World Kinect by 5.0% in the fourth quarter. GF Fund Management CO. LTD. now owns 16,135 shares of the company’s stock valued at $378,000 after buying an additional 771 shares during the period. SG Americas Securities LLC bought a new stake in shares of World Kinect in the fourth quarter valued at approximately $435,000. Caxton Associates LLP acquired a new stake in World Kinect during the third quarter worth approximately $2,701,000. Finally, Qube Research & Technologies Ltd increased its stake in World Kinect by 119.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 702,367 shares of the company’s stock worth $18,226,000 after acquiring an additional 382,340 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.