American Century Companies Inc. Decreases Position in KLX Inc. (KLXI)
American Century Companies Inc. cut its stake in KLX Inc. (NASDAQ:KLXI) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,759 shares of the aerospace company’s stock after selling 19,448 shares during the quarter. American Century Companies Inc. owned approximately 0.26% of KLX worth $6,974,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in KLXI. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of KLX by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock worth $118,000 after acquiring an additional 206 shares in the last quarter. Bank of Montreal Can lifted its position in KLX by 1.4% in the second quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after acquiring an additional 43 shares during the last quarter. Shelton Capital Management purchased a new stake in KLX in the second quarter valued at $200,000. LS Investment Advisors LLC lifted its position in KLX by 15.9% in the second quarter. LS Investment Advisors LLC now owns 4,097 shares of the aerospace company’s stock valued at $205,000 after acquiring an additional 561 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in KLX in the third quarter valued at $205,000.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of KLX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of KLX in a research note on Thursday, August 24th. BidaskClub downgraded shares of KLX from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target (down from $55.00) on shares of KLX in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.40.
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Shares of KLX Inc. (NASDAQ KLXI) opened at $55.57 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 7.28 and a debt-to-equity ratio of 0.52. KLX Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $56.69. The firm has a market cap of $2,818.92, a PE ratio of 28.53, a PEG ratio of 3.27 and a beta of 1.33.
KLX (NASDAQ:KLXI) last issued its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. KLX had a net margin of 4.83% and a return on equity of 4.43%. The business had revenue of $430.60 million for the quarter, compared to the consensus estimate of $423.08 million. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. research analysts expect that KLX Inc. will post 2.78 earnings per share for the current 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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