KLX (KLXI) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of KLX (NASDAQ:KLXI) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other equities analysts have also commented on KLXI. Zacks Investment Research lowered shares of KLX from a buy rating to a hold rating in a research report on Wednesday, August 9th. Jefferies Group reaffirmed a hold rating and set a $51.00 price target (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Cowen reaffirmed an outperform rating and set a $55.00 price target (up from $52.00) on shares of KLX in a research report on Thursday, August 24th. Finally, ValuEngine lowered shares of KLX from a buy rating to a hold rating in a report on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $57.80.

KLX (KLXI) traded up $5.09 during trading hours on Wednesday, reaching $59.00. 1,351,100 shares of the company were exchanged, compared to its average volume of 406,423. KLX has a 1-year low of $42.45 and a 1-year high of $59.88. The company has a market capitalization of $2,788.40, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.31. The company has a current ratio of 7.28, a quick ratio of 2.27 and a debt-to-equity ratio of 0.52.

KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.10. KLX had a net margin of 4.83% and a return on equity of 4.43%. The business had revenue of $456.70 million for the quarter, compared to analyst estimates of $442.26 million. KLX’s quarterly revenue was up 17.4% on a year-over-year basis. analysts anticipate that KLX will post 2.78 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in KLXI. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in KLX by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock valued at $118,000 after buying an additional 206 shares during the period. Bank of Montreal Can increased its holdings in 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. Shelton Capital Management bought a new position in KLX in the 2nd quarter valued at about $200,000. Victory Capital Management Inc. bought a new position in KLX in the 3rd quarter valued at about $205,000. Finally, Teacher Retirement System of Texas bought a new position in KLX in the 2nd quarter valued at about $212,000.

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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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