Gabelli initiated coverage on shares of KLX Inc. (NASDAQ:KLXI) in a research note published on Friday morning. The brokerage issued a buy rating and a $64.00 target price on the stock.
A number of other research firms have also weighed in on KLXI. SunTrust Banks, Inc. started coverage on shares of KLX in a research report on Thursday, January 19th. They set a buy rating and a $53.00 price target on the stock. Zacks Investment Research lowered shares of KLX from a hold rating to a strong sell rating in a research report on Thursday, December 22nd. Finally, Deutsche Bank AG raised their price target on shares of KLX from $39.00 to $43.00 and gave the company a hold rating in a research report on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $44.83.
Shares of KLX (NASDAQ:KLXI) opened at 49.44 on Friday. The firm has a 50-day moving average of $46.24 and a 200-day moving average of $37.85. KLX has a 12-month low of $25.33 and a 12-month high of $49.48. The company has a market cap of $2.60 billion, a P/E ratio of 103.00 and a beta of 1.24.
KLX (NASDAQ:KLXI) last released its quarterly earnings results on Thursday, December 8th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. KLX had a net margin of 1.68% and a return on equity of 3.92%. The company had revenue of $389 million for the quarter, compared to analyst estimates of $384.83 million. Analysts predict that KLX will post $1.27 EPS for the current year.
In related news, VP Heather Floyd sold 5,019 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $47.21, for a total transaction of $236,946.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new position in KLX during the second quarter valued at $22,608,000. Emerald Mutual Fund Advisers Trust acquired a new position in KLX during the third quarter valued at $8,333,000. Emerald Advisers Inc. PA acquired a new position in KLX during the third quarter valued at $8,049,000. BlackRock Fund Advisors increased its position in KLX by 6.6% in the third quarter. BlackRock Fund Advisors now owns 3,136,447 shares of the company’s stock valued at $110,403,000 after buying an additional 194,453 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in KLX by 64.2% in the second quarter. Macquarie Group Ltd. now owns 423,768 shares of the company’s stock valued at $13,137,000 after buying an additional 165,671 shares during the last quarter. Hedge funds and other institutional investors own 99.90% of the company’s stock.
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).