KLX Inc. (KLXI) Sees Unusually-High Trading Volume
KLX Inc. (NASDAQ:KLXI) shares saw unusually-strong trading volume on Friday . Approximately 208,858 shares changed hands during mid-day trading, an increase of 0% from the previous session’s volume of 208,191 shares.The stock last traded at $36.40 and had previously closed at $35.62.
Several equities analysts have recently commented on KLXI shares. Zacks Investment Research upgraded shares of KLX from a “strong sell” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, July 26th. Jefferies Group restated a “hold” rating on shares of KLX in a research report on Friday, August 5th. Deutsche Bank AG dropped their target price on shares of KLX from $39.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, May 24th. Finally, KeyCorp upgraded shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Friday, June 17th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.92.
The company’s market capitalization is $1.94 billion. The stock has a 50-day moving average price of $33.11 and a 200-day moving average price of $31.80.
KLX (NASDAQ:KLXI) last issued its earnings results on Monday, May 23rd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.10. The business had revenue of $368.20 million for the quarter, compared to analysts’ expectations of $431.50 million. KLX’s revenue for the quarter was down 14.7% on a year-over-year basis. On average, equities analysts anticipate that KLX Inc. will post $1.10 earnings per share for the current year.
In other KLX news, Director Theodore L. Weise bought 2,000 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average price of $30.43 per share, for a total transaction of $60,860.00. Following the completion of the transaction, the director now directly owns 6,895 shares of the company’s stock, valued at $209,814.85. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Roger Mark Franks sold 5,270 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $33.22, for a total transaction of $175,069.40. Following the transaction, the vice president now owns 22,467 shares of the company’s stock, valued at approximately $746,353.74. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in KLX stock. BlackRock Advisors LLC raised its position in KLX Inc. (NASDAQ:KLXI) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,695 shares of the company’s stock after buying an additional 106,923 shares during the period. BlackRock Advisors LLC owned 1.28% of KLX worth $20,867,000 as of its most recent SEC filing.
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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