Suntrust Banks Inc. raised its stake in shares of KLX Inc. (NASDAQ:KLXI) by 3.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,185 shares of the aerospace company’s stock after buying an additional 346 shares during the period. Suntrust Banks Inc.’s holdings in KLX were worth $458,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of KLX by 16,238.1% during the 1st 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. Vanguard Group Inc. raised its stake in shares of KLX by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,303,889 shares of the aerospace company’s stock valued at $215,194,000 after buying an additional 11,596 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of KLX by 36.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of KLX by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares during the last quarter. Finally, State Street Corp raised its stake in shares of KLX by 11.3% during the 1st quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock valued at $96,904,000 after buying an additional 219,261 shares during the last quarter.
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A number of equities research analysts have recently commented on KLXI shares. BidaskClub upgraded KLX from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Cowen and Company restated a “buy” rating and set a $52.00 target price on shares of KLX in a research report on Monday, July 17th. Zacks Investment Research cut KLX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “hold” rating and set a $51.00 target price (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $55.00.
Shares of KLX Inc. (KLXI) opened at 53.93 on Wednesday. The stock’s 50 day moving average price is $50.08 and its 200-day moving average price is $49.27. The firm has a market capitalization of $2.77 billion, a PE ratio of 36.44 and a beta of 1.32. KLX Inc. has a 52-week low of $33.17 and a 52-week high of $55.05.
KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. The firm had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $423.08 million. KLX had a net margin of 4.83% and a return on equity of 4.43%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that KLX Inc. will post $3.08 EPS for the current fiscal year.
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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