KLX (NASDAQ:KLXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “KLX Inc. is a distributor and service provider of aerospace fasteners and consumables. The Company operates in two segments: Aerospace Solutions Group and Energy Services Group. The Aerospace Solutions Group provides fasteners, consumable products, and logistics services to aerospace customers. The Energy Services Group provides services and logistics for oil and gas drilling sites. It also provides aerospace hardware, and inventory management services. KLX Inc. is based in United States. “
Other analysts also recently issued reports about the company. SunTrust Banks boosted their price target on KLX to $65.00 in a research note on Thursday, December 7th. BidaskClub upgraded KLX from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Cowen restated a “buy” rating and issued a $67.00 price target on shares of KLX in a research note on Thursday, December 14th. Jefferies Group restated a “hold” rating and issued a $63.00 price target on shares of KLX in a research note on Tuesday, December 26th. Finally, ValuEngine downgraded KLX from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. KLX currently has a consensus rating of “Buy” and a consensus target price of $67.40.
KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The business had revenue of $456.70 million during the quarter, compared to the consensus estimate of $442.26 million. KLX had a return on equity of 5.14% and a net margin of 4.99%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. research analysts anticipate that KLX will post 2.86 earnings per share for the current fiscal year.
In other news, VP Heather Floyd sold 2,024 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $61.00, for a total transaction of $123,464.00. Following the completion of the sale, the vice president now directly owns 13,811 shares in the company, valued at approximately $842,471. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Theodore L. Weise sold 2,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.69, for a total value of $121,380.00. Following the sale, the director now owns 7,083 shares of the company’s stock, valued at $429,867.27. The disclosure for this sale can be found here. Insiders own 1.77% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Creative Planning bought a new stake in shares of KLX during the 4th quarter valued at $201,000. Cowen Inc. bought a new stake in shares of KLX during the 4th quarter valued at $205,000. LPL Financial LLC bought a new stake in shares of KLX during the 4th quarter valued at $206,000. We Are One Seven LLC bought a new stake in shares of KLX during the 4th quarter valued at $223,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of KLX by 44.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,428 shares of the aerospace company’s stock valued at $234,000 after acquiring an additional 1,060 shares during the period.
KLX Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KLX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLX and related companies with MarketBeat.com's FREE daily email newsletter.