Prudential Financial Inc. trimmed its stake in shares of KLX Inc (NASDAQ:KLXI) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,927 shares of the aerospace company’s stock after selling 988 shares during the period. Prudential Financial Inc. owned approximately 0.07% of KLX worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its holdings in KLX by 88.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,329,922 shares of the aerospace company’s stock valued at $90,767,000 after buying an additional 623,959 shares during the last quarter. BlackRock Inc. increased its stake in shares of KLX by 5.0% in the fourth quarter. BlackRock Inc. now owns 6,876,627 shares of the aerospace company’s stock worth $469,328,000 after purchasing an additional 324,638 shares in the last quarter. Deutsche Bank AG increased its stake in shares of KLX by 134.8% in the fourth quarter. Deutsche Bank AG now owns 290,842 shares of the aerospace company’s stock worth $19,848,000 after purchasing an additional 166,957 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of KLX by 187.3% in the fourth quarter. Guggenheim Capital LLC now owns 211,372 shares of the aerospace company’s stock worth $14,426,000 after purchasing an additional 137,791 shares in the last quarter. Finally, Pier Capital LLC bought a new position in shares of KLX during the fourth quarter worth $9,047,000. 99.23% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on KLXI. TheStreet upgraded shares of KLX from a “c+” rating to a “b” rating in a research report on Monday, April 9th. Zacks Investment Research upgraded shares of KLX from a “sell” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Thursday, March 15th. SunTrust Banks restated a “buy” rating and issued a $82.00 target price on shares of KLX in a report on Monday, April 23rd. Jefferies Financial Group upgraded shares of KLX from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, BidaskClub downgraded shares of KLX from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.50.
NASDAQ KLXI opened at $72.15 on Friday. The company has a current ratio of 6.38, a quick ratio of 2.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 3.06 and a beta of 1.13. KLX Inc has a one year low of $45.73 and a one year high of $82.50.
KLX (NASDAQ:KLXI) last released its quarterly earnings results on Tuesday, May 22nd. The aerospace company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. KLX had a net margin of 3.65% and a return on equity of 6.58%. The business had revenue of $499.10 million for the quarter, compared to analysts’ expectations of $479.50 million. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. equities research analysts expect that KLX Inc will post 4.11 EPS for the current year.
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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