Gabelli Funds LLC lessened its holdings in KLX Inc. (NASDAQ:KLXI) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,500 shares of the aerospace company’s stock after selling 30,000 shares during the quarter. Gabelli Funds LLC owned 0.45% of KLX worth $12,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in KLXI. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of KLX by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock worth $118,000 after acquiring an additional 206 shares during the period. Bank of Montreal Can grew its stake in shares of KLX by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock worth $159,000 after acquiring an additional 43 shares during the period. Shelton Capital Management bought a new position in shares of KLX during the 2nd quarter worth $200,000. LS Investment Advisors LLC grew its stake in shares of KLX by 15.9% during the 2nd quarter. LS Investment Advisors LLC now owns 4,097 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 561 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of KLX during the 3rd quarter worth $205,000.
Shares of KLX Inc. (NASDAQ:KLXI) opened at $55.52 on Friday. The stock has a market capitalization of $2,885.64, a PE ratio of 29.21, a P/E/G ratio of 3.34 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.27 and a current ratio of 7.28. KLX Inc. has a 1-year low of $36.64 and a 1-year high of $56.69.
KLX (NASDAQ:KLXI) last issued its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts expect that KLX Inc. will post 2.78 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on KLXI. Zacks Investment Research downgraded KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub downgraded KLX from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Cowen and Company reiterated an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of KLX in a research note on Thursday, August 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target (down previously from $55.00) on shares of KLX in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.40.
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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