Zacks Investment Research Downgrades World Fuel Services (NYSE:INT) to Hold

World Fuel Services (NYSE:INT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “World Fuel Services Corporation is a global energy management company involved in providing supply fulfillment, energy procurement advisory services, and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. “

Several other equities analysts have also commented on INT. Stifel Nicolaus upped their target price on World Fuel Services from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. ValuEngine lowered World Fuel Services from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.67.

World Fuel Services stock opened at $43.04 on Wednesday. The firm has a market capitalization of $2.82 billion, a P/E ratio of 20.40, a PEG ratio of 3.47 and a beta of 1.13. The stock has a fifty day moving average price of $42.60 and a 200 day moving average price of $38.32. World Fuel Services has a 52 week low of $19.81 and a 52 week high of $44.33. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

World Fuel Services (NYSE:INT) last released its earnings results on Wednesday, October 30th. The oil and gas company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.91 billion. World Fuel Services had a return on equity of 9.12% and a net margin of 0.42%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, equities analysts predict that World Fuel Services will post 2.49 EPS for the current year.

In other World Fuel Services news, CEO Michael J. Kasbar sold 23,836 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $39.03, for a total transaction of $930,319.08. Following the completion of the sale, the chief executive officer now directly owns 800,246 shares in the company, valued at $31,233,601.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ken Bakshi sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $43.14, for a total value of $431,400.00. Following the sale, the director now owns 53,180 shares of the company’s stock, valued at $2,294,185.20. The disclosure for this sale can be found here. Insiders sold 80,450 shares of company stock valued at $3,209,652 over the last quarter. Insiders own 2.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in World Fuel Services by 134.3% during the third quarter. Millennium Management LLC now owns 54,537 shares of the oil and gas company’s stock worth $2,178,000 after acquiring an additional 31,262 shares during the last quarter. Man Group plc increased its stake in World Fuel Services by 209.5% during the third quarter. Man Group plc now owns 137,483 shares of the oil and gas company’s stock worth $5,491,000 after acquiring an additional 93,066 shares during the last quarter. Squarepoint Ops LLC increased its stake in World Fuel Services by 53.5% during the third quarter. Squarepoint Ops LLC now owns 49,309 shares of the oil and gas company’s stock worth $1,969,000 after acquiring an additional 17,184 shares during the last quarter. Castleark Management LLC increased its stake in World Fuel Services by 18.5% during the third quarter. Castleark Management LLC now owns 273,755 shares of the oil and gas company’s stock worth $10,934,000 after acquiring an additional 42,760 shares during the last quarter. Finally, GQ Asset Management LLC acquired a new stake in World Fuel Services during the third quarter worth about $105,000. Institutional investors own 93.92% of the company’s stock.

World Fuel Services Company Profile

World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.

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