KLX Inc (KLXI) is Reiterated by Deutsche Bank to Hold, Lowers Price Target to $ 37

KLX Inc (KLXI) was Reiterated by Deutsche Bank to “Hold” while Lowering the Price Target of the company shares to $ 37 from a previous price target of $39 . Deutsche Bank advised their investors in a research report released on May 24, 2016.

On the company’s financial health, KLX Inc reported $0.42 EPS for the quarter, based on the information available during the earnings call on May 23, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $368.20 million for the quarter, compared to analysts expectations of $373.48 million. The company’s revenue was down -14.7 % compared to the same quarter last year.

KLX Inc opened for trading at $33.61 and hit $35.25 on the upside on Friday, eventually ending the session at $34.99, with a gain of 4.60% or 1.54 points. The heightened volatility saw the trading volume jump to 8,94,093 shares. Company has a market cap of $1,847 M.

In a different news, on Mar 22, 2016, Heather Floyd (VP Finance & Controller) sold 405 shares at $32.50 per share price. According to the SEC, on Jan 8, 2016, John T Collins (director) purchased 5,000 shares at $28.02 per share price. On Dec 4, 2015, Richard Hamermesh (director) purchased 3,000 shares at $39.93 per share price, according to the Form-4 filing with the securities and exchange commission.

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. It operates in two segments: Aerospace Solutions Group (ASG) segment and Energy Services Group (ESG) segment. Its customers include oil and gas companies that are engaged in the exploration and production (E&P) and development of oil and gas properties. Through the Company’s global facilities network and information technology systems it offers unparalleled 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). Its systems support both internal distribution processes along with customer services including just-in-time (JIT) deliveries and kitting solutions. It provides access to over one million stock keeping units (SKUs).


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