KLX Inc. (KLXI) Stock Price Up 4%
KLX Inc. (NASDAQ:KLXI) rose 4% during mid-day trading on Thursday . The company traded as high as $33.75 and last traded at $33.63, with a volume of 87,401 shares changing hands. The stock had previously closed at $32.34.
Several research firms have issued reports on KLXI. Zacks Investment Research upgraded shares of KLX from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Thursday, April 28th. 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 note on Friday, June 17th. They noted that the move was a valuation call. Deutsche Bank AG decreased their target price on shares of KLX from $39.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Finally, Jefferies Group restated a “hold” rating on shares of KLX in a research note on Friday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.93.
The company’s market capitalization is $1.80 billion. The stock has a 50 day moving average price of $32.39 and a 200-day moving average price of $31.55.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Monday, May 23rd. The company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.10. The company earned $368.20 million during the quarter, compared to analysts’ expectations of $431.50 million. KLX’s revenue for the quarter was down 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that KLX Inc. will post $1.08 EPS for the current fiscal year.
In related news, VP Roger Mark Franks sold 5,270 shares of the business’s stock in a transaction that occurred 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 directly owns 22,467 shares in the company, valued at approximately $746,353.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore L. Weise acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was acquired at an average price of $30.43 per share, with a total value of $60,860.00. Following the completion of the transaction, the director now directly owns 6,895 shares in the company, valued at approximately $209,814.85. The disclosure for this purchase can be found here.
Several institutional investors have modified their holdings of the stock. 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 valued at $1,555,000 after buying an additional 2,400 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in KLX by 51.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 33,979 shares of the company’s stock valued at $1,046,000 after buying an additional 11,575 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in KLX by 18.7% in the fourth quarter. BlackRock Advisors LLC now owns 677,695 shares of the company’s stock valued at $20,867,000 after buying an additional 106,923 shares during the last quarter.
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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