World Kinect (NYSE:WKC) Stock Rating Lowered by Wall Street Zen

World Kinect (NYSE:WKC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Bank of America reissued an “underperform” rating on shares of World Kinect in a research note on Monday, November 2nd. Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research report on Monday, October 26th. Finally, Morgan Stanley raised their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $32.00.

World Kinect Stock Performance

Shares of WKC opened at $35.63 on Friday. The company has a market cap of $1.82 billion, a PE ratio of -12.00, a price-to-earnings-growth ratio of 0.55 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $36.08 and a 200-day moving average price of $31.02. World Kinect has a 12-month low of $22.21 and a 12-month high of $41.20.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The company had revenue of $13.27 billion during the quarter, compared to analyst estimates of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. World Kinect’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts forecast that World Kinect will post 3.58 earnings per share for the current fiscal year.

Insider Activity at World Kinect

In other World Kinect news, Director Jorge L. Benitez sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $36.56, for a total value of $475,280.00. Following the completion of the sale, the director owned 50,924 shares of the company’s stock, valued at $1,861,781.44. This represents a 20.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael J. Kasbar sold 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $36.41, for a total transaction of $364,100.00. Following the transaction, the chairman owned 946,450 shares in the company, valued at $34,460,244.50. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,000 shares of company stock valued at $1,962,940. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On World Kinect

A number of hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in World Kinect by 235.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company’s stock valued at $14,879,000 after purchasing an additional 452,462 shares during the last quarter. Man Group plc purchased a new stake in shares of World Kinect during the second quarter valued at approximately $10,379,000. Bank of New York Mellon Corp bought a new position in shares of World Kinect in the second quarter worth approximately $10,224,000. Counterpoint Mutual Funds LLC grew its holdings in shares of World Kinect by 2,505.9% in the third quarter. Counterpoint Mutual Funds LLC now owns 295,747 shares of the company’s stock worth $10,398,000 after purchasing an additional 284,398 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of World Kinect in the second quarter worth approximately $7,867,000. 97.06% of the stock is currently owned by institutional investors.

About World Kinect

World Kinect Corporation (NYSE:WKC) is an energy management company that supplies, distributes and manages fuel and other energy products for commercial customers around the world. The company serves the aviation, marine and land transportation sectors, as well as commercial, industrial and government customers.

Its offerings include conventional and renewable fuels, natural gas, electricity, lubricants, fuel-management services and related environmental solutions. World Kinect also provides procurement, logistics, payment-processing and transaction-management services designed to help customers manage energy supply, costs and operational requirements.

The company was founded as World Fuel Services in 1985 and adopted the World Kinect name in 2024.