KLX Inc. (KLXI) Sees Large Volume Increase
KLX Inc. (NASDAQ:KLXI) shares saw strong trading volume on Friday . 208,858 shares traded 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 analysts have recently commented on the company. Zacks Investment Research upgraded KLX from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Thursday, April 28th. Deutsche Bank AG reduced their target price on KLX from $39.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. KeyCorp upgraded KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Friday, June 17th. They noted that the move was a valuation call. Finally, Jefferies Group restated a “hold” rating on shares of KLX in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. KLX currently has a consensus rating of “Hold” and an average price target of $37.92.
The stock’s 50-day moving average price is $33.11 and its 200-day moving average price is $31.80. The company’s market capitalization is $1.94 billion.
KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Monday, May 23rd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.10. The business had revenue of $368.20 million for the quarter, compared to analyst estimates of $431.50 million. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Analysts expect that KLX Inc. will post $1.12 earnings per share for the current fiscal year.
In related news, VP Roger Mark Franks sold 5,270 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $33.22, for a total value of $175,069.40. Following the completion of the transaction, the vice president now directly owns 22,467 shares of the company’s stock, valued at $746,353.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore L. Weise purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was bought at an average cost of $30.43 per share, with a total value of $60,860.00. Following the completion of the purchase, the director now owns 6,895 shares of the company’s stock, valued at $209,814.85. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in KLX stock. BlackRock Advisors LLC increased its position in KLX Inc. (NASDAQ:KLXI) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677,695 shares of the company’s stock after buying an additional 106,923 shares during the period. BlackRock Advisors LLC owned approximately 1.28% of KLX worth $20,867,000 at the end of the most recent reporting period.
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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