World Kinect (NYSE:WKC) Price Target Lowered to $26.00 at Bank of America

World Kinect (NYSE:WKC - Get Free Report) had its target price decreased by equities research analysts at Bank of America from $27.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price target would indicate a potential upside of 4.54% from the company's previous close.

Separately, Stifel Nicolaus decreased their target price on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, February 21st.

World Kinect Stock Performance

Shares of WKC traded up $0.06 on Friday, reaching $24.87. The company's stock had a trading volume of 372,316 shares, compared to its average volume of 761,831. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock has a market capitalization of $1.41 billion, a P/E ratio of 23.46, a PEG ratio of 0.89 and a beta of 1.19. The stock's 50 day simple moving average is $26.83 and its two-hundred day simple moving average is $27.73. World Kinect has a 12-month low of $22.71 and a 12-month high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm's revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. Research analysts forecast that World Kinect will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at $29,512,064.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WKC. Stifel Financial Corp bought a new position in shares of World Kinect during the 3rd quarter valued at about $485,000. Barclays PLC lifted its holdings in shares of World Kinect by 18.6% in the 3rd quarter. Barclays PLC now owns 256,126 shares of the company's stock valued at $7,918,000 after acquiring an additional 40,233 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of World Kinect in the 3rd quarter valued at about $31,000. Principal Financial Group Inc. lifted its holdings in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after acquiring an additional 56,952 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of World Kinect by 1.5% in the 4th quarter. Nordea Investment Management AB now owns 138,386 shares of the company's stock valued at $3,779,000 after acquiring an additional 2,012 shares during the last quarter. 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.