Zurcher Kantonalbank Zurich Cantonalbank Buys 206 Shares of KLX Inc. (KLXI)
Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in KLX Inc. (NASDAQ:KLXI) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,368 shares of the aerospace company’s stock after buying an additional 206 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KLX were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of KLXI. Harbour Capital Advisors LLC bought a new position in shares of KLX in the first quarter worth about $119,000. Bank of Montreal Can raised its stake 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 worth $159,000 after buying an additional 43 shares during the period. LS Investment Advisors LLC raised its stake in shares of KLX by 15.9% in the second quarter. LS Investment Advisors LLC now owns 4,097 shares of the aerospace company’s stock worth $205,000 after buying an additional 561 shares during the period. Teacher Retirement System of Texas bought a new position in shares of KLX in the second quarter worth about $212,000. Finally, OLD National Bancorp IN bought a new position in shares of KLX in the second quarter worth about $285,000.
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KLXI has been the topic of several recent research reports. TheStreet raised KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Cowen and Company reaffirmed a “buy” rating and issued a $52.00 price objective on shares of KLX in a research note on Monday, July 17th. BidaskClub raised KLX from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price objective (down previously from $55.00) on shares of KLX in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.17.
Shares of KLX Inc. (NASDAQ:KLXI) opened at 52.91 on Friday. The stock has a market cap of $2.72 billion, a PE ratio of 35.75 and a beta of 1.29. KLX Inc. has a 52-week low of $32.23 and a 52-week high of $54.40. The company’s 50 day moving average price is $49.00 and its 200 day moving average price is $48.46.
KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The business’s revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that KLX Inc. will post $3.07 earnings per share for the current year.
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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