SunTrust Banks Research Analysts Lift Earnings Estimates for KLX Inc. (KLXI)
KLX Inc. (NASDAQ:KLXI) – Investment analysts at SunTrust Banks boosted their Q4 2018 earnings per share (EPS) estimates for KLX in a note issued to investors on Wednesday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will earn $0.77 per share for the quarter, up from their previous forecast of $0.75. SunTrust Banks also issued estimates for KLX’s FY2020 earnings at $3.80 EPS.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. The company had revenue of $430.60 million during the quarter, compared to the consensus estimate of $423.08 million. KLX had a net margin of 4.83% and a return on equity of 4.43%. The company’s revenue was up 13.6% on a year-over-year basis.
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Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of KLX from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub lowered shares of KLX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and issued a $52.00 target price on shares of KLX in a report on Monday, July 17th. Finally, TheStreet upgraded shares of KLX from a “c+” rating to a “b-” rating in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $55.17.
KLX (KLXI) opened at 46.63 on Monday. KLX has a 12 month low of $32.23 and a 12 month high of $54.40. The firm’s 50-day moving average is $50.95 and its 200-day moving average is $48.80. The stock has a market cap of $2.40 billion, a P/E ratio of 31.51 and a beta of 1.28.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock worth $117,117,000 after buying an additional 1,009,575 shares during the period. Jennison Associates LLC bought a new stake in KLX during the second quarter worth about $39,567,000. Westfield Capital Management Co. LP increased its stake in KLX by 266.0% in the first quarter. Westfield Capital Management Co. LP now owns 989,110 shares of the aerospace company’s stock worth $44,213,000 after buying an additional 718,870 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock worth $119,593,000 after buying an additional 708,731 shares during the period.
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).
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