Zacks Investment Research downgraded shares of KLX (NASDAQ:KLXI) from a hold rating to a sell rating in a report issued on Tuesday morning.
According to Zacks, “KLX Inc. is a distributor and service provider of aerospace fasteners and consumables. The Company operates in two segments: Aerospace Solutions Group and Energy Services Group. The Aerospace Solutions Group provides fasteners, consumable products, and logistics services to aerospace customers. The Energy Services Group provides services and logistics for oil and gas drilling sites. It also provides aerospace hardware, and inventory management services. KLX Inc. is based in United States. “
KLXI has been the topic of several other reports. BidaskClub raised shares of KLX from a buy rating to a strong-buy rating in a report on Thursday, February 22nd. SunTrust Banks lifted their price objective on shares of KLX from $65.00 to $78.00 and gave the company a buy rating in a report on Wednesday, December 27th. Buckingham Research lowered shares of KLX from a buy rating to a neutral rating in a report on Tuesday, December 26th. Jefferies Group reissued a hold rating and set a $63.00 price objective on shares of KLX in a report on Tuesday, December 26th. Finally, Cowen reissued a buy rating and set a $57.00 price objective on shares of KLX in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $67.40.
KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19. KLX had a net margin of 3.07% and a return on equity of 6.03%. The firm had revenue of $442.20 million during the quarter, compared to the consensus estimate of $450.87 million. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. sell-side analysts expect that KLX will post 3.99 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new position in KLX during the fourth quarter valued at approximately $315,000. We Are One Seven LLC purchased a new position in KLX in the fourth quarter worth $223,000. Pier Capital LLC purchased a new position in KLX in the fourth quarter worth $9,047,000. MetLife Investment Advisors LLC purchased a new position in KLX in the fourth quarter worth $3,785,000. Finally, Cowen Inc. purchased a new position in KLX in the fourth quarter worth $205,000. 98.42% of the stock is currently owned by institutional investors.
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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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