World Kinect (NYSE:WKC) Raised to Hold at 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 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. According to data from MarketBeat.com, World Kinect presently has a consensus rating of “Reduce” and an average price target of $28.75.

World Kinect Trading Down 1.7%

Shares of NYSE WKC traded down $0.45 during trading on Monday, reaching $25.57. The company had a trading volume of 226,643 shares, compared to its average volume of 989,505. The stock has a market cap of $1.42 billion, a P/E ratio of -3.32, a PEG 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 company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $24.74 and its 200-day moving average price is $25.66.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in World Kinect by 12.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 174,715 shares of the company’s stock valued at $4,097,000 after buying an additional 18,704 shares during the period. GF Fund Management CO. LTD. boosted its position in shares of World Kinect by 5.0% during the 4th quarter. GF Fund Management CO. LTD. now owns 16,135 shares of the company’s stock valued at $378,000 after acquiring an additional 771 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $435,000. Caxton Associates LLP bought a new position in shares of World Kinect in the third quarter worth approximately $2,701,000. Finally, Qube Research & Technologies Ltd raised its stake in World Kinect by 119.5% in the third quarter. Qube Research & Technologies Ltd now owns 702,367 shares of the company’s stock valued at $18,226,000 after purchasing an additional 382,340 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.

World Kinect Company Profile

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.