Trade Report: The KLX Inc. (KLXI) Given Average Recommendation of “Hold” from Brokerages

The KLX Inc. (KLXI) Given Average Recommendation of “Hold” from Brokerages

Shares of KLX Inc. (NASDAQ:KLXI) have received a consensus recommendation of “Hold” from the seven research firms that are covering the firm. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $35.05.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of KLX from a “strong sell” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, July 26th. Jefferies Group reaffirmed a “hold” rating on shares of KLX in a report on Friday, August 5th. Finally, KeyCorp raised shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 target price for the company in a report on Friday, June 17th. They noted that the move was a valuation call.

KLX (NASDAQ:KLXI) traded down 0.74% during mid-day trading on Friday, hitting $33.46. 82,164 shares of the stock traded hands. KLX has a 12 month low of $25.33 and a 12 month high of $41.00. The company’s market cap is $1.76 billion. The company’s 50 day moving average is $35.08 and its 200 day moving average is $33.44.

KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, August 24th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. KLX had a negative net margin of 26.66% and a positive return on equity of 3.83%. The firm earned $391.40 million during the quarter, compared to analysts’ expectations of $402.30 million. On average, analysts expect that KLX will post $0.92 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of KLXI. Fuller & Thaler Asset Management Inc. raised its position in KLX by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,142,493 shares of the company’s stock worth $128,417,000 after buying an additional 690,876 shares during the last quarter. Vanguard Group Inc. raised its position in KLX by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,826,929 shares of the company’s stock worth $118,635,000 after buying an additional 162,500 shares during the last quarter. BlackRock Fund Advisors raised its position in KLX by 4.0% in the second quarter. BlackRock Fund Advisors now owns 2,941,994 shares of the company’s stock worth $91,202,000 after buying an additional 113,268 shares during the last quarter. State Street Corp raised its position in KLX by 1.0% in the first quarter. State Street Corp now owns 1,848,886 shares of the company’s stock worth $59,424,000 after buying an additional 18,223 shares during the last quarter. Finally, Kingstown Capital Management L.P. raised its position in KLX by 29.6% in the first quarter. Kingstown Capital Management L.P. now owns 1,750,000 shares of the company’s stock worth $56,245,000 after buying an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 99.44% of the company’s stock.

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