KLX (KLXI) Trading 9.4% Higher Following Earnings Beat
Shares of KLX Inc. (NASDAQ:KLXI) traded up 9.4% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $59.88 and last traded at $59.00. 1,351,100 shares were traded during mid-day trading, an increase of 232% from the average session volume of 406,423 shares. The stock had previously closed at $53.91.
The aerospace company reported $0.88 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 the consensus estimate of $442.26 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year.
Several equities analysts recently commented on the company. SunTrust Banks raised their target price on KLX to $65.00 in a research report on Thursday. Cowen restated a “buy” rating and set a $57.00 target price on shares of KLX in a research report on Wednesday. ValuEngine downgraded KLX from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised KLX from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, BidaskClub cut KLX from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLXI. Bank of Montreal Can increased its stake in shares of KLX by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after buying an additional 43 shares during the period. Aperio Group LLC boosted its position in shares of KLX by 8.7% in the 2nd quarter. Aperio Group LLC now owns 24,358 shares of the aerospace company’s stock worth $1,218,000 after purchasing an additional 1,946 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of KLX by 33.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 94,475 shares of the aerospace company’s stock worth $4,724,000 after purchasing an additional 23,815 shares during the last quarter. ING Groep NV bought a new position in shares of KLX in the 2nd quarter worth $315,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of KLX by 3.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 31,778 shares of the aerospace company’s stock worth $1,588,000 after purchasing an additional 1,082 shares during the last quarter.
The company has a debt-to-equity ratio of 0.52, a current ratio of 7.28 and a quick ratio of 2.27. The stock has a market cap of $2,788.40, a PE ratio of 28.23, a PEG ratio of 3.23 and a beta of 1.31.
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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