KLX (KLXI) Stock Price Up 9.4% Following Better-Than-Expected Earnings

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.

Several institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC grew its position in shares of KLX by 9.3% during the third quarter. Sterling Capital Management LLC now owns 80,810 shares of the aerospace company’s stock valued at $4,277,000 after purchasing an additional 6,865 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of KLX by 2.7% during the third quarter. Neuberger Berman Group LLC now owns 188,000 shares of the aerospace company’s stock valued at $9,951,000 after purchasing an additional 5,000 shares in the last quarter. California Public Employees Retirement System grew its position in shares of KLX by 1.3% during the third quarter. California Public Employees Retirement System now owns 113,600 shares of the aerospace company’s stock valued at $6,013,000 after purchasing an additional 1,500 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of KLX during the third quarter valued at about $683,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of KLX during the third quarter valued at about $217,000.

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.

WARNING: This news story was first reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3080849/klx-klxi-stock-price-up-9-4-following-better-than-expected-earnings.html.

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).

Receive News & Ratings for KLX Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLX Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.