World Kinect (NYSE:WKC) Given New $32.00 Price Target at Morgan Stanley

World Kinect (NYSE:WKC) had its price objective increased by Morgan Stanley from $30.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley‘s price target points to a potential downside of 16.88% from the company’s current price.

Several other analysts have also commented on WKC. Wall Street Zen lowered World Kinect from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Bank of America reissued an “underperform” rating on shares of World Kinect in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a report on Monday, October 26th. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and an average target price of $32.00.

World Kinect Price Performance

Shares of NYSE:WKC traded up $1.45 during midday trading on Tuesday, reaching $38.50. 614,330 shares of the company’s stock were exchanged, compared to its average volume of 979,198. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The company’s 50 day simple moving average is $35.97 and its two-hundred day simple moving average is $30.82. World Kinect has a 12 month low of $22.21 and a 12 month high of $41.20. The firm has a market capitalization of $1.97 billion, a PE ratio of -12.96, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $12.34 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities research analysts expect that World Kinect will post 3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other World Kinect news, Chairman Michael Kasbar sold 10,000 shares of World Kinect stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $35.67, for a total value of $356,700.00. Following the completion of the transaction, the chairman owned 956,450 shares in the company, valued at approximately $34,116,571.50. The trade was a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jose-Miguel Tejada sold 6,000 shares of World Kinect stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $37.16, for a total value of $222,960.00. Following the completion of the transaction, the executive vice president owned 35,676 shares of the company’s stock, valued at approximately $1,325,720.16. The trade was a 14.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,000 shares of company stock valued at $933,660 over the last ninety days. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC bought a new stake in World Kinect during the 3rd quarter worth about $247,000. Vise Technologies Inc. acquired a new stake in World Kinect in the 3rd quarter valued at about $263,000. VestGen Advisors LLC bought a new position in shares of World Kinect in the third quarter worth about $365,000. Fifth Third Wealth Advisors LLC raised its stake in shares of World Kinect by 90.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 17,249 shares of the company’s stock worth $606,000 after acquiring an additional 8,193 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of World Kinect in the third quarter worth about $251,000. 97.06% of the stock is owned by institutional investors.

About World Kinect

World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.

Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.

The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.