KLX Inc. (KLXI) Stock Price Up 4%
Shares of KLX Inc. (NASDAQ:KLXI) rose 4% during trading on Thursday . The stock traded as high as $33.75 and last traded at $33.63, with a volume of 87,401 shares. The stock had previously closed at $32.34.
KLXI has been the subject of several recent research reports. Zacks Investment Research lowered KLX from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Deutsche Bank AG cut their price target on KLX from $39.00 to $37.00 and set a “hold” rating for the company in a report on Thursday, May 19th. KeyCorp raised KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Friday, June 17th. They noted that the move was a valuation call. Finally, Jefferies Group reissued a “hold” rating on shares of KLX in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. KLX presently has a consensus rating of “Buy” and a consensus price target of $38.93.
The firm’s market cap is $1.78 billion. The company’s 50-day moving average is $32.36 and its 200 day moving average is $31.49.
KLX (NASDAQ:KLXI) last issued its quarterly earnings data on Monday, May 23rd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.52 by $0.10. The firm earned $368.20 million during the quarter, compared to analysts’ expectations of $431.50 million. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. Analysts predict that KLX Inc. will post $1.08 EPS for the current fiscal year.
In other news, Director Theodore L. Weise bought 2,000 shares of KLX stock in a transaction that occurred on Monday, May 23rd. The stock was bought at an average price of $30.43 per share, for a total transaction of $60,860.00. Following the purchase, the director now directly owns 6,895 shares of the company’s stock, valued at approximately $209,814.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roger Mark Franks sold 5,270 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was 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 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 number of institutional investors have recently modified their holdings of KLXI. Liberty Mutual Group Asset Management Inc. raised its position in shares of KLX by 51.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 33,979 shares of the company’s stock worth $1,046,000 after buying an additional 11,575 shares during the period. New York State Common Retirement Fund raised its position in shares of KLX by 5.0% in the fourth quarter. New York State Common Retirement Fund now owns 50,500 shares of the company’s stock worth $1,555,000 after buying an additional 2,400 shares during the period. Finally, BlackRock Advisors LLC raised its position in shares of KLX by 18.7% in the fourth quarter. BlackRock Advisors LLC now owns 677,695 shares of the company’s stock worth $20,867,000 after buying an additional 106,923 shares during the 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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