KLX (KLXI) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of KLX (NASDAQ:KLXI) from a buy rating to a strong-buy rating in a report released on Saturday.

KLXI has been the topic of a number of other reports. Cowen restated a buy rating and issued a $57.00 target price on shares of KLX in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of KLX from a sell rating to a hold rating in a research report on Tuesday, October 24th. Jefferies Group reaffirmed a hold rating and issued a $63.00 price target on shares of KLX in a report on Tuesday, December 26th. SunTrust Banks raised their price target on shares of KLX to $65.00 in a report on Thursday, December 7th. Finally, Buckingham Research cut shares of KLX from a buy rating to a neutral rating in a report on Tuesday, December 26th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. KLX presently has an average rating of Buy and a consensus price target of $64.80.

KLX (NASDAQ KLXI) traded down $0.09 during trading on Friday, reaching $70.71. 283,996 shares of the company were exchanged, compared to its average volume of 559,055. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.91 and a quick ratio of 2.21. KLX has a 12 month low of $42.45 and a 12 month high of $71.20. The stock has a market cap of $3,561.31, a price-to-earnings ratio of 31.57, a P/E/G ratio of 4.36 and a beta of 1.33.

KLX (NASDAQ:KLXI) last posted its quarterly earnings data on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. KLX had a net margin of 4.99% and a return on equity of 5.14%. The company had revenue of $456.70 million for the quarter, compared to analyst estimates of $442.26 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. equities analysts predict that KLX will post 2.85 EPS for the current year.

In related news, Director Theodore L. Weise sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.69, for a total transaction of $121,380.00. Following the completion of the transaction, the director now owns 7,083 shares of the company’s stock, valued at $429,867.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Heather Floyd sold 2,024 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $61.00, for a total transaction of $123,464.00. Following the transaction, the vice president now directly owns 13,811 shares of the company’s stock, valued at approximately $842,471. The disclosure for this sale can be found here. Company insiders own 1.77% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of KLX by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock worth $118,000 after purchasing an additional 206 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in KLX during the third quarter valued at $205,000. Shelton Capital Management acquired a new stake in KLX during the second quarter valued at $200,000. Cubist Systematic Strategies LLC acquired a new stake in KLX during the third quarter valued at $217,000. Finally, Sciencast Management LP grew its position in KLX by 4.3% during the second quarter. Sciencast Management LP now owns 4,714 shares of the aerospace company’s stock valued at $236,000 after buying an additional 196 shares during the period.

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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).

Analyst Recommendations for KLX (NASDAQ:KLXI)

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