KLX Inc. (NASDAQ:KLXI) announced its quarterly earnings results on Wednesday. The aerospace company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06, Bloomberg Earnings reports. KLX had a return on equity of 3.99% and a net margin of 4.24%. The firm had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $423.08 million. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. KLX updated its FY18 guidance to ~$3.00 EPS.
Shares of KLX (NASDAQ:KLXI) opened at 49.21 on Wednesday. KLX has a 1-year low of $32.23 and a 1-year high of $54.40. The stock’s 50 day moving average price is $51.41 and its 200-day moving average price is $48.85. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 40.01 and a beta of 1.28.
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In other KLX news, insider Roger Mark Franks sold 2,447 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $47.70, for a total transaction of $116,721.90. Following the completion of the sale, the insider now owns 21,444 shares of the company’s stock, valued at $1,022,878.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 3,163 shares of company stock valued at $153,553. 1.77% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLXI. Zurcher Kantonalbank Zurich Cantonalbank raised its position in KLX by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock valued at $118,000 after buying an additional 206 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in KLX during the first quarter worth about $119,000. Tyers Asset Management LLC raised its position in KLX by 9.1% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the aerospace company’s stock worth $120,000 after buying an additional 224 shares during the period. Bank of Montreal Can raised its position in 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. Finally, Flinton Capital Management LLC raised its position in KLX by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,264 shares of the aerospace company’s stock worth $146,000 after buying an additional 272 shares during the period.
Several equities research analysts have recently weighed in on KLXI shares. Zacks Investment Research cut KLX from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. TheStreet raised KLX from a “c+” rating to a “b-” rating in a report on Wednesday, June 7th. BidaskClub raised KLX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Finally, Cowen and Company reissued a “buy” rating and set a $52.00 price objective on shares of KLX in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.40.
About KLX
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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