KLX (NASDAQ:KLXI) Rating Reiterated by Cowen

KLX (NASDAQ:KLXI)‘s stock had its “buy” rating reiterated by equities research analysts at Cowen in a research report issued on Wednesday, December 6th. They presently have a $57.00 price target on the aerospace company’s stock. Cowen’s price target would suggest a potential downside of 16.48% from the stock’s current price.

Several other research firms have also recently issued reports on KLXI. Jefferies Group reaffirmed a “hold” rating and set a $51.00 price objective (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Zacks Investment Research cut shares of KLX from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. BidaskClub cut shares of KLX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. SunTrust Banks lifted their price objective on shares of KLX to $65.00 in a research report on Thursday, December 7th. Finally, ValuEngine cut shares of KLX from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $64.80.

Shares of KLX (NASDAQ:KLXI) traded down $1.27 during mid-day trading on Wednesday, reaching $68.25. 348,996 shares of the company’s stock traded hands, compared to its average volume of 522,108. The stock has a market cap of $3,440.00 and a PE ratio of 45.20. KLX has a 52 week low of $42.45 and a 52 week high of $70.23. 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 (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The business had revenue of $456.70 million during the quarter, compared to analysts’ expectations of $442.26 million. KLX had a net margin of 4.99% and a return on equity of 5.14%. KLX’s revenue for the quarter was up 17.4% on a year-over-year basis. sell-side analysts predict that KLX will post 2.85 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC increased its stake in KLX by 9.3% in the third quarter. Sterling Capital Management LLC now owns 80,810 shares of the aerospace company’s stock valued at $4,277,000 after purchasing an additional 6,865 shares during the period. Neuberger Berman Group LLC increased its stake in KLX by 2.7% in the third quarter. Neuberger Berman Group LLC now owns 188,000 shares of the aerospace company’s stock valued at $9,951,000 after purchasing an additional 5,000 shares during the period. California Public Employees Retirement System increased its stake in KLX by 1.3% in the third quarter. California Public Employees Retirement System now owns 113,600 shares of the aerospace company’s stock valued at $6,013,000 after purchasing an additional 1,500 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of KLX during the third quarter worth about $683,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of KLX during the third quarter worth about $217,000.

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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).

Analyst Recommendations for KLX (NASDAQ:KLXI)

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