KLX Inc. (NASDAQ:KLXI)’s share price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $59.31 and last traded at $53.91, with a volume of 429300 shares traded. The stock had previously closed at $55.08.

The aerospace company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.08. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company had revenue of $456.70 million for the quarter, compared to analyst estimates of $442.26 million. KLX’s revenue for the quarter was up 17.4% on a year-over-year basis.

KLXI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered KLX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Cowen reiterated an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of KLX in a research note on Thursday, August 24th. BidaskClub lowered KLX from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group reiterated a “hold” rating and issued a $51.00 price objective (down from $55.00) on shares of KLX in a research note on Thursday, August 24th. Finally, ValuEngine lowered KLX from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.40.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of KLX by 0.3% in the second quarter. Vanguard Group Inc. now owns 4,303,889 shares of the aerospace company’s stock worth $215,194,000 after purchasing an additional 11,596 shares during the period. Dimensional Fund Advisors LP grew its position in KLX by 9.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,552,418 shares of the aerospace company’s stock worth $188,030,000 after buying an additional 310,002 shares in the last quarter. State Street Corp grew its position in KLX by 4.1% during the second quarter. State Street Corp now owns 2,256,773 shares of the aerospace company’s stock worth $112,850,000 after buying an additional 88,952 shares in the last quarter. FMR LLC grew its position in KLX by 15.9% during the second quarter. FMR LLC now owns 1,566,933 shares of the aerospace company’s stock worth $78,347,000 after buying an additional 214,625 shares in the last quarter. Finally, Paradice Investment Management LLC grew its position in KLX by 2.6% during the third quarter. Paradice Investment Management LLC now owns 1,528,146 shares of the aerospace company’s stock worth $80,885,000 after buying an additional 39,236 shares in the last quarter.

The company has a market capitalization of $2,848.92, a PE ratio of 28.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.28 and a quick ratio of 2.27.

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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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