Zacks: KLX Energy Services Holdings Inc (NASDAQ:KLXE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of KLX Energy Services Holdings Inc (NASDAQ:KLXE) have been given a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. KLX Energy Services’ rating score has declined by 67% in the last three months as a result of various analysts’ ratings changes.

Analysts have set a 12-month consensus price target of $34.83 for the company and are forecasting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned KLX Energy Services an industry rank of 204 out of 256 based on the ratings given to related companies.

KLXE has been the topic of several recent research reports. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Piper Jaffray Companies downgraded shares of Mallinckrodt from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $39.00 to $9.00 in a research report on Thursday, May 30th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Wednesday, June 5th. Finally, Jefferies Financial Group initiated coverage on shares of Middleby in a research report on Wednesday, April 3rd. They set a “hold” rating and a $135.00 target price on the stock.

NASDAQ:KLXE traded up $0.10 during mid-day trading on Friday, hitting $17.27. 142,544 shares of the company’s stock were exchanged, compared to its average volume of 124,622. The stock’s 50 day moving average is $19.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.07 and a quick ratio of 2.87. KLX Energy Services has a fifty-two week low of $16.56 and a fifty-two week high of $36.13. The company has a market cap of $397.47 million and a price-to-earnings ratio of 6.15.

KLX Energy Services (NASDAQ:KLXE) last posted its earnings results on Wednesday, May 22nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.08 by $0.17. KLX Energy Services had a net margin of 0.68% and a return on equity of 14.25%. The business had revenue of $145.80 million for the quarter, compared to the consensus estimate of $157.40 million. The firm’s quarterly revenue was up 1457900.0% on a year-over-year basis. On average, analysts forecast that KLX Energy Services will post 1.19 earnings per share for the current year.

In other news, VP Gary J. Roberts purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $19.25 per share, for a total transaction of $96,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Theodore L. Weise purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $22.48 per share, for a total transaction of $44,960.00. The disclosure for this purchase can be found here. Insiders bought a total of 22,000 shares of company stock worth $439,260 in the last 90 days. Corporate insiders own 10.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of KLX Energy Services in the 1st quarter worth approximately $25,000. Bank of Montreal Can bought a new stake in shares of KLX Energy Services in the 1st quarter valued at $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of KLX Energy Services in the 1st quarter valued at $68,000. Public Employees Retirement Association of Colorado bought a new stake in shares of KLX Energy Services in the 1st quarter valued at $94,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of KLX Energy Services in the 1st quarter valued at $117,000. Hedge funds and other institutional investors own 85.91% of the company’s stock.

KLX Energy Services Company Profile

KLX Energy Services Holdings, Inc provides completion, intervention, and production services and products to the onshore oil and gas producing regions of the United States. It offers a range of technical services, and related tools and equipment to companies engaged in the exploration and development of North American onshore conventional and unconventional oil and natural gas reserves.

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