World Kinect (NYSE:WKC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of World Kinect (NYSE:WKC) from a buy rating to a strong-buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently issued reports on WKC. Morgan Stanley set a $30.00 target price on World Kinect in a research note on Wednesday, July 29th. Weiss Ratings lowered World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.00.

World Kinect Price Performance

Shares of WKC stock opened at $35.22 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. The company has a market capitalization of $1.80 billion, a PE ratio of -10.97, a price-to-earnings-growth ratio of 0.55 and a beta of 1.16. The firm’s 50-day moving average is $36.52 and its two-hundred day moving average is $31.09. World Kinect has a 12 month low of $22.21 and a 12 month high of $41.20.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.54. The business had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Analysts predict that World Kinect will post 3.6 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Monday, September 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. World Kinect’s payout ratio is presently -28.66%.

Insider Transactions at World Kinect

In related news, Director John L. Manley sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $39.88, for a total value of $398,800.00. Following the sale, the director owned 54,116 shares in the company, valued at approximately $2,158,146.08. The trade was a 15.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael J. Kasbar sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $35.04, for a total value of $876,000.00. Following the transaction, the chairman owned 986,450 shares of the company’s stock, valued at $34,565,208. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,445 shares of company stock valued at $3,915,119 over the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of World Kinect

Several hedge funds have recently made changes to their positions in WKC. Sequoia Financial Advisors LLC purchased a new position in shares of World Kinect in the second quarter valued at approximately $207,000. Tidal Investments LLC grew its holdings in shares of World Kinect by 1.2% in the second quarter. Tidal Investments LLC now owns 161,922 shares of the company’s stock valued at $5,334,000 after purchasing an additional 1,908 shares in the last quarter. Engineers Gate Manager LP increased its stake in World Kinect by 64.6% during the 2nd quarter. Engineers Gate Manager LP now owns 116,078 shares of the company’s stock worth $3,824,000 after buying an additional 45,560 shares during the period. Cidel Asset Management Inc. purchased a new stake in World Kinect during the 2nd quarter worth approximately $265,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in World Kinect during the 2nd quarter worth approximately $303,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Company Profile

World Kinect Corporation (NYSE: WKC) is an energy management company that provides fuel, energy and related services to customers in the aviation, marine and land transportation industries. Its offerings include the sourcing, marketing, distribution and delivery of conventional and alternative fuels, as well as energy procurement and risk-management solutions.

The company serves commercial airlines, business and general aviation operators, shipping companies, trucking and transportation businesses, government entities, utilities and other commercial customers.