Shares of KLX Inc. (NASDAQ:KLXI) rose 9.4% on Thursday following a better than expected earnings announcement. The company traded as high as $59.88 and last traded at $59.00. Approximately 1,351,100 shares were traded during trading, an increase of 232% from the average daily volume of 406,423 shares. The stock had previously closed at $53.91.
The aerospace company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. 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 analysts’ expectations of $442.26 million. KLX’s quarterly revenue was up 17.4% on a year-over-year basis.
KLXI has been the topic of a number of recent research reports. BidaskClub cut KLX from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group reiterated a “hold” rating and issued a $51.00 price target (down previously from $55.00) on shares of KLX in a research note on Thursday, August 24th. Cowen reiterated an “outperform” rating and issued a $55.00 price target (up previously from $52.00) on shares of KLX in a research note on Thursday, August 24th. Zacks Investment Research lowered KLX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Finally, ValuEngine lowered KLX from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.80.
The firm has a market capitalization of $2,788.40, a PE ratio of 28.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.27 and a current ratio of 7.28.
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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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