KLX’s (KLXI) Buy Rating Reiterated at Cowen and Company
A number of other analysts have also recently weighed in on KLXI. Zacks Investment Research cut KLX from a buy rating to a hold rating in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a hold rating and set a $51.00 price target (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Finally, BidaskClub cut KLX from a hold rating to a sell rating in a research report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. KLX presently has a consensus rating of Hold and an average target price of $55.40.
KLX (NASDAQ:KLXI) traded up 1.56% on Thursday, reaching $55.25. The company’s stock had a trading volume of 288,828 shares. KLX has a 52 week low of $33.17 and a 52 week high of $55.40. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 37.33 and a beta of 1.32. The firm’s 50 day moving average price is $51.65 and its 200-day moving average price is $49.76.
KLX (NASDAQ:KLXI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts predict that KLX will post $3.07 EPS for the current year.
Several institutional investors have recently made changes to their positions in KLXI. BlackRock Inc. increased its position in KLX by 16,238.1% in the 1st quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after acquiring an additional 6,265,148 shares during the period. Goldman Sachs Group Inc. increased its position in KLX by 62.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after acquiring an additional 1,009,575 shares during the period. Jennison Associates LLC acquired a new stake in KLX in the 2nd quarter valued at approximately $39,567,000. Dimensional Fund Advisors LP increased its position in KLX by 21.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,242,416 shares of the aerospace company’s stock valued at $162,119,000 after acquiring an additional 566,921 shares during the period. Finally, Point72 Asset Management L.P. increased its position in KLX by 491.9% in the 1st quarter. Point72 Asset Management L.P. now owns 411,992 shares of the aerospace company’s stock valued at $18,416,000 after acquiring an additional 342,392 shares during the period.
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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