World Kinect (NYSE:WKC) Stock Rating Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded World Kinect from “buy” to “hold.” Overall analyst sentiment is more negative: MarketBeat lists a “Strong Sell” consensus and an average price target of $32.
• World Kinect beat quarterly expectations, reporting EPS of $0.99 versus $0.96 expected and revenue of $13.27 billion versus $12.34 billion expected. Revenue rose 41.3% year over year.
• Company insiders sold 54,000 shares worth about $1.96 million in the last quarter. Chairman Michael J. Kasbar’s sale of 10,000 shares reduced his ownership by 1.05%.

World Kinect (NYSE:WKC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on WKC. Bank of America reissued an "underperform" rating on shares of World Kinect in a research report on Monday. Weiss Ratings reiterated a "sell (d)" rating on shares of World Kinect in a research note on Monday, October 26th. Morgan Stanley raised their price target on shares of World Kinect from $30.00 to $32.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Zacks Research cut World Kinect from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, World Kinect currently has a consensus rating of "Strong Sell" and an average target price of $32.00.

World Kinect Stock Performance

NYSE WKC opened at $35.63 on Friday. World Kinect has a twelve month low of $22.21 and a twelve month high of $41.20. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $36.08 and a 200 day simple moving average of $31.02. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.57 and a beta of 1.29.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $13.27 billion for the quarter, compared to analysts' expectations of $12.34 billion. World Kinect had a positive return on equity of 13.63% and a negative net margin of 0.37%. The firm's quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Sell-side analysts expect that World Kinect will post 3.58 EPS for the current year.

Insider Buying and Selling at World Kinect

In other news, Chairman Michael J. Kasbar sold 10,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $36.41, for a total value of $364,100.00. Following the sale, the chairman directly owned 946,450 shares of the company's stock, valued at approximately $34,460,244.50. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $37.16, for a total value of $222,960.00. Following the transaction, the executive vice president owned 35,676 shares of the company's stock, valued at $1,325,720.16. This represents a 14.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,000 shares of company stock valued at $1,962,940 in the last quarter. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its position in World Kinect by 235.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 644,941 shares of the company's stock worth $14,879,000 after acquiring an additional 452,462 shares during the period. Principal Financial Group Inc. raised its position in shares of World Kinect by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 365,120 shares of the company's stock valued at $8,423,000 after purchasing an additional 25,708 shares during the period. Royal Bank of Canada increased its stake in World Kinect by 30.4% in the first quarter. Royal Bank of Canada now owns 328,662 shares of the company's stock worth $7,583,000 after purchasing an additional 76,657 shares during the period. Man Group plc purchased a new stake in World Kinect during the 2nd quarter valued at about $10,379,000. Finally, Bank of New York Mellon Corp purchased a new position in World Kinect during the second quarter worth approximately $10,224,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Company Profile

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.

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