KLX Sees Unusually Large Options Volume (KLXI)

KLX Inc (NASDAQ:KLXI) saw unusually large options trading activity on Tuesday. Traders acquired 950 call options on the company. This represents an increase of 1,538% compared to the average daily volume of 58 call options.

A number of research firms have recently weighed in on KLXI. BidaskClub upgraded shares of KLX from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 13th. SunTrust Banks reiterated a “buy” rating and set a $78.00 target price (up from $65.00) on shares of KLX in a report on Tuesday, January 2nd. Buckingham Research lowered shares of KLX from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Jefferies Group reiterated a “hold” rating and set a $63.00 target price on shares of KLX in a report on Tuesday, December 26th. Finally, Cowen reiterated a “buy” rating and set a $67.00 target price on shares of KLX in a report on Thursday, December 14th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $65.00.

In other news, VP Heather Floyd sold 2,024 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $61.00, for a total transaction of $123,464.00. Following the completion of the sale, the vice president now directly owns 13,811 shares in the company, valued at $842,471. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodore L. Weise sold 2,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $60.69, for a total transaction of $121,380.00. Following the sale, the director now owns 7,083 shares of the company’s stock, valued at $429,867.27. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 206 shares in the last quarter. Shelton Capital Management bought a new position in KLX in the second quarter worth about $200,000. Creative Planning bought a new position in KLX in the fourth quarter worth about $201,000. Victory Capital Management Inc. bought a new position in KLX in the third quarter worth about $205,000. Finally, Cubist Systematic Strategies LLC bought a new position in KLX in the third quarter worth about $217,000.

KLX (KLXI) opened at $71.23 on Friday. KLX has a one year low of $42.45 and a one year high of $71.42. The stock has a market cap of $3,450.98, a PE ratio of 43.70, a P/E/G ratio of 4.23 and a beta of 1.33. The company has a quick ratio of 2.21, a current ratio of 6.91 and a debt-to-equity ratio of 0.52.

KLX (NASDAQ:KLXI) last released its quarterly earnings results on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. KLX had a net margin of 4.99% and a return on equity of 5.14%. The company had revenue of $456.70 million during the quarter, compared to the consensus estimate of $442.26 million. KLX’s revenue was up 17.4% on a year-over-year basis. analysts anticipate that KLX will post 2.85 EPS for the current year.

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About KLX

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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