The stock of KLX Inc (NASDAQ:KLXI) hit a new 52-week high and has $42.62 target or 5.00% above today’s $40.59 share price. The 7 months bullish chart indicates low risk for the $2.18 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $42.62 price target is reached, the company will be worth $109.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 239,343 shares traded hands. KLX Inc (NASDAQ:KLXI) has risen 18.65% since April 21, 2016 and is uptrending. It has outperformed by 13.32% the S&P500.
Analysts await KLX Inc (NASDAQ:KLXI) to report earnings on December, 6. They expect $0.50 earnings per share, up 16.28% or $0.07 from last year’s $0.43 per share. KLXI’s profit will be $26.85 million for 20.30 P/E if the $0.50 EPS becomes a reality. After $0.43 actual earnings per share reported by KLX Inc for the previous quarter, Wall Street now forecasts 16.28% EPS growth.
KLX Inc (NASDAQ:KLXI) Ratings Coverage
Out of 7 analysts covering KLX (NASDAQ:KLXI), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. KLX has been the topic of 10 analyst reports since August 17, 2015 according to StockzIntelligence Inc. As per Monday, August 17, the company rating was upgraded by DA Davidson. The rating was upgraded by KeyBanc Capital Markets on Friday, June 17 to “Overweight”. The stock has “Underperform” rating given by RBC Capital Markets on Friday, October 23. The firm has “Sector Perform” rating given on Wednesday, August 26 by RBC Capital Markets. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, May 24. On Wednesday, October 7 the stock rating was initiated by Cantor Fitzgerald with “Buy”. The firm earned “Sector Perform” rating on Wednesday, December 2 by RBC Capital Markets.
According to Zacks Investment Research, “KLX Inc. is a distributor and service provider of aerospace fasteners and consumables. The Company operates in two segments: Aerospace Solutions Group and Energy Services Group. The Aerospace Solutions Group provides fasteners, consumable products, and logistics services to aerospace customers. The Energy Services Group provides services and logistics for oil and gas drilling sites. It also provides aerospace hardware, and inventory management services. KLX Inc. is based in United States.”
More notable recent KLX Inc (NASDAQ:KLXI) news were published by: Globenewswire.com which released: “KLX Inc. Acquires Aftermarket Aerospace Distribution Business” on May 17, 2016, also Marketwatch.com with their article: “KLX upgraded to overweight from sector weight at KeyBanc Capital” published on December 18, 2014, Bizjournals.com published: “Publicly traded aerospace firm to create hundreds of jobs at new HQ” on October 26, 2016. More interesting news about KLX Inc (NASDAQ:KLXI) were released by: Fool.com and their article: “Shares of KLX Inc. Plunge 17% After Steep Revenue and Profit Declines” published on May 23, 2016 as well as Nasdaq.com‘s news article titled: “KLX Inc. Announces Major New Business Award” with publication date: October 20, 2016.
KLXI Company Profile
KLX Inc. (KLX), incorporated on July 31, 2014, is the distributor and service well-known provider of aerospace fasteners and consumables. The Firm offers ranges of aerospace hardware and consumables and inventory management services across the world. The Firm operates through two divisions: Aerospace Solutions Group (ASG) and Energy Services Group (ESG). Through the Company’s global facilities network and information technology systems, it offers service to commercial airlines, business jet and defense original equipment manufacturers and their subcontractors (OEMs), maintenance, repair and overhaul (MRO) operators, and fixed base operators (FBOs). The Company’s systems support both internal distribution processes, along with customer services, including just-in-time (JIT) deliveries and kitting solutions.
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