SunTrust Banks, Inc. started coverage on shares of KLX Inc. (NASDAQ:KLXI) in a report released on Thursday. The firm issued a buy rating and a $53.00 price target on the stock.
A number of other brokerages have also weighed in on KLXI. Zacks Investment Research lowered shares of KLX from a hold rating to a strong sell rating in a report on Thursday, December 22nd. Deutsche Bank AG lifted their price target on shares of KLX from $39.00 to $43.00 and gave the company a hold rating in a report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. KLX presently has a consensus rating of Hold and an average target price of $44.83.
KLX (NASDAQ:KLXI) traded down 0.24% during trading on Thursday, reaching $48.90. 114,648 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $46.24 and a 200 day moving average price of $37.85. The stock has a market capitalization of $2.57 billion, a P/E ratio of 101.88 and a beta of 1.24. KLX has a 1-year low of $25.33 and a 1-year high of $49.48.
KLX (NASDAQ:KLXI) last announced its quarterly earnings results on Thursday, December 8th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $389 million for the quarter, compared to analyst estimates of $384.83 million. KLX had a net margin of 1.68% and a return on equity of 3.92%. Equities research analysts expect that KLX will post $1.27 earnings per share for the current year.
In related news, VP Heather Floyd sold 5,019 shares of KLX stock in a transaction on 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in KLX during the fourth quarter valued at $4,050,000. Credit Suisse AG raised its position in KLX by 91.6% in the third quarter. Credit Suisse AG now owns 149,367 shares of the company’s stock valued at $5,259,000 after buying an additional 71,408 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in KLX by 66.4% in the third quarter. Ameritas Investment Partners Inc. now owns 20,645 shares of the company’s stock valued at $727,000 after buying an additional 8,240 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in KLX during the third quarter valued at $3,755,000. Finally, Samlyn Capital LLC raised its position in KLX by 3.2% in the third quarter. Samlyn Capital LLC now owns 1,099,300 shares of the company’s stock valued at $38,696,000 after buying an additional 33,976 shares during the last quarter. Institutional investors and hedge funds own 99.90% of the company’s stock.
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).