Stifel Nicolaus Lowers World Kinect (NYSE:WKC) Price Target to $33.00

World Kinect (NYSE:WKC) had its target price reduced by investment analysts at Stifel Nicolaus from $35.00 to $33.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 27.66% from the stock’s current price.

Separately, Raymond James increased their price target on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.00.

World Kinect Stock Down 4.1 %

World Kinect stock traded down $1.10 during mid-day trading on Friday, reaching $25.85. The stock had a trading volume of 249,788 shares, compared to its average volume of 535,252. The firm has a market capitalization of $1.55 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24. World Kinect has a fifty-two week low of $17.69 and a fifty-two week high of $27.25. The stock’s 50-day simple moving average is $25.81 and its 200-day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that World Kinect will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Ken Bakshi sold 10,936 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the completion of the transaction, the director now directly owns 41,545 shares of the company’s stock, valued at $999,988.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On World Kinect

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WKC. Nisa Investment Advisors LLC purchased a new position in shares of World Kinect in the fourth quarter valued at $1,421,000. Trexquant Investment LP purchased a new stake in shares of World Kinect in the fourth quarter worth about $1,262,000. Panagora Asset Management Inc. bought a new position in shares of World Kinect in the fourth quarter valued at approximately $4,100,000. Semanteon Capital Management LP bought a new position in shares of World Kinect in the fourth quarter valued at approximately $1,248,000. Finally, Principal Financial Group Inc. purchased a new position in World Kinect during the fourth quarter valued at approximately $35,957,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Company Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.