KLX Inc (KLXI) Forecasted to Earn FY2018 Earnings of $1.80 Per Share

KLX Inc (NASDAQ:KLXI) – Analysts at Gabelli lifted their FY2018 earnings per share estimates for shares of KLX in a note issued to investors on Tuesday. Gabelli analyst S. Burke now forecasts that the aerospace company will post earnings of $1.80 per share for the year, up from their previous estimate of $1.50. Gabelli has a “Buy” rating and a $64.00 price objective on the stock. Gabelli also issued estimates for KLX’s FY2019 earnings at $2.60 EPS, FY2020 earnings at $3.10 EPS and FY2021 earnings at $3.50 EPS.

Several other equities research analysts have also recently commented on KLXI. Cowen and Company reaffirmed a “buy” rating and set a $52.00 price objective on shares of KLX in a research report on Tuesday, March 7th. SunTrust Banks, Inc. initiated coverage on KLX in a research report on Thursday, January 19th. They set a “buy” rating and a $53.00 price objective on the stock. Zacks Investment Research raised KLX from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 21st. Finally, Deutsche Bank AG increased their price objective on KLX from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $50.33.

Earnings History and Estimates for KLX (NASDAQ:KLXI)

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KLX (NASDAQ:KLXI) traded up 1.34% during mid-day trading on Friday, reaching $47.49. 346,979 shares of the company traded hands. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 51.62 and a beta of 1.27. KLX has a 12-month low of $28.65 and a 12-month high of $52.40. The company’s 50-day moving average is $45.90 and its 200-day moving average is $43.59.

KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Tuesday, March 7th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.17. KLX had a net margin of 1.68% and a return on equity of 3.92%. The business earned $382 million during the quarter, compared to the consensus estimate of $399.10 million.

Large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in KLX by 3.2% in the third quarter. Nationwide Fund Advisors now owns 132,381 shares of the aerospace company’s stock valued at $4,660,000 after buying an additional 4,075 shares during the period. Monarch Partners Asset Management LLC boosted its stake in KLX by 49.7% in the third quarter. Monarch Partners Asset Management LLC now owns 107,676 shares of the aerospace company’s stock valued at $3,790,000 after buying an additional 35,766 shares during the period. Emerald Advisers Inc. PA acquired a new stake in KLX during the third quarter valued at approximately $8,049,000. Emerald Mutual Fund Advisers Trust acquired a new stake in KLX during the third quarter valued at approximately $8,333,000. Finally, Aperio Group LLC boosted its stake in KLX by 22.9% in the third quarter. Aperio Group LLC now owns 19,447 shares of the aerospace company’s stock valued at $685,000 after buying an additional 3,628 shares during the period. 99.90% of the stock is currently owned by institutional investors.

In related news, VP Michael F. Senft sold 2,328 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $47.19, for a total transaction of $109,858.32. Following the sale, the vice president now directly owns 18,653 shares of the company’s stock, valued at $880,235.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company’s stock.

About KLX

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).

5 Day Chart for NASDAQ:KLXI

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