BlueCrest Capital Management Ltd Invests $291,000 in KLX Inc. (KLXI) Stock
BlueCrest Capital Management Ltd acquired a new position in KLX Inc. (NASDAQ:KLXI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,818 shares of the aerospace company’s stock, valued at approximately $291,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in KLX by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock worth $118,000 after buying an additional 206 shares during the period. Harbour Capital Advisors LLC purchased a new stake in KLX in the 1st quarter worth approximately $119,000. Bank of Montreal Can lifted its holdings in KLX by 1.4% in the 2nd 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. Shelton Capital Management purchased a new stake in KLX in the 2nd quarter worth approximately $200,000. Finally, LS Investment Advisors LLC lifted its holdings in KLX by 15.9% in the 2nd 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.
KLX Inc. (NASDAQ:KLXI) opened at 54.29 on Thursday. The stock has a market cap of $2.79 billion, a PE ratio of 36.68 and a beta of 1.32. The stock has a 50 day moving average price of $51.22 and a 200-day moving average price of $49.65. KLX Inc. has a 1-year low of $33.17 and a 1-year high of $55.05.
KLX (NASDAQ:KLXI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The firm had revenue of $430.60 million during the quarter, compared to analyst estimates of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that KLX Inc. will post $3.07 EPS for the current year.
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A number of research analysts have recently commented on the company. Zacks Investment Research cut KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company restated a “buy” rating and issued a $52.00 target price on shares of KLX in a research note on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and issued a $51.00 target price (down previously from $55.00) on shares of KLX in a research note on Thursday, August 24th. Finally, BidaskClub cut KLX from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. KLX presently has a consensus rating of “Hold” and a consensus price target of $55.00.
KLX Company Profile
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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