SunTrust Banks reaffirmed their buy rating on shares of KLX (NASDAQ:KLXI) in a report issued on Tuesday morning. The firm currently has a $78.00 price target on the aerospace company’s stock, up from their prior price target of $65.00.
Other research analysts have also recently issued reports about the company. Cowen reaffirmed a buy rating and set a $57.00 price objective on shares of KLX in a research report on Thursday, October 19th. BidaskClub raised KLX from a hold rating to a buy rating in a research report on Friday, December 15th. ValuEngine cut KLX from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research raised KLX from a sell rating to a hold rating in a research report on Tuesday, October 24th. Finally, Jefferies Group reissued a hold rating and set a $63.00 price target on shares of KLX in a research report on Tuesday, December 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. KLX currently has a consensus rating of Hold and a consensus price target of $64.80.
Shares of KLX (NASDAQ:KLXI) traded down $0.64 during trading on Tuesday, hitting $68.60. The company’s stock had a trading volume of 384,700 shares, compared to its average volume of 404,833. The company has a quick ratio of 2.21, a current ratio of 6.91 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3,487.24, a P/E ratio of 42.09, a P/E/G ratio of 4.06 and a beta of 1.33. KLX has a 12 month low of $42.45 and a 12 month high of $70.23.
KLX (NASDAQ:KLXI) last posted its quarterly earnings data on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.10. The company had revenue of $456.70 million during the quarter, compared to analysts’ expectations of $442.26 million. KLX had a return on equity of 5.14% and a net margin of 4.99%. KLX’s quarterly revenue was up 17.4% compared to the same quarter last year. equities research analysts expect that KLX will post 2.85 EPS for the current fiscal year.
In related news, VP Heather Floyd sold 2,024 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,811 shares of the company’s stock, valued at $842,471. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore L. Weise sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,083 shares of the company’s stock, valued at $429,867.27. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of KLX by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock valued at $118,000 after buying an additional 206 shares during the last quarter. Bank of Montreal Can lifted its position in shares of KLX by 1.4% in the second quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after buying an additional 43 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of KLX in the third quarter valued at approximately $205,000. Shelton Capital Management bought a new position in shares of KLX during the second quarter worth approximately $200,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of KLX during the third quarter worth approximately $217,000.
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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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