World Kinect (NYSE:WKC) PT Raised to $27.00 at Bank of America

World Kinect (NYSE:WKC) had its price target hoisted by Bank of America from $24.00 to $27.00 in a research note published on Friday, Benzinga reports. They currently have an underperform rating on the stock.

Separately, Stifel Nicolaus cut their target price on shares of World Kinect from $35.00 to $33.00 and set a buy rating for the company in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, World Kinect has an average rating of Hold and an average target price of $29.00.

World Kinect Trading Up 1.1 %

WKC stock opened at $29.32 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. World Kinect has a 52-week low of $17.69 and a 52-week high of $29.33. The company’s 50-day simple moving average is $27.31 and its 200-day simple moving average is $26.00. The firm has a market cap of $1.76 billion, a P/E ratio of 31.53, a PEG ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. World Kinect’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. As a group, equities analysts forecast that World Kinect will post 2.15 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.32%. World Kinect’s dividend payout ratio is presently 73.12%.

Insider Buying and Selling at World Kinect

In other news, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the transaction, the director now owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.

Institutional Trading of World Kinect

Several institutional investors and hedge funds have recently made changes to their positions in WKC. Dimensional Fund Advisors LP acquired a new stake in shares of World Kinect during the fourth quarter worth about $90,585,000. Brandes Investment Partners LP purchased a new position in shares of World Kinect in the 4th quarter valued at approximately $57,423,000. Principal Financial Group Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at approximately $35,957,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of World Kinect during the fourth quarter worth approximately $28,874,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of World Kinect during the fourth quarter worth $12,179,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

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.