World Kinect (NYSE:WKC) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "sell (D+)" rating for World Kinect (NYSE:WKC), indicating a negative outlook on the stock.
• Despite the sell rating, Zacks Research upgraded the stock to "strong-buy," while other analysts have mixed ratings with a consensus target price of $28.75.
• The stock is currently trading at $25.48, having decreased by 0.9%, with a market cap of $1.42 billion and a negative PE ratio of -3.34.

World Kinect (NYSE:WKC - Get Free Report)'s stock had its "sell (d+)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on WKC. Zacks Research upgraded World Kinect from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Raymond James Financial reissued an "outperform" rating and issued a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Finally, Morgan Stanley lowered their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, World Kinect has an average rating of "Hold" and a consensus target price of $28.75.

World Kinect Stock Down 0.9%

NYSE:WKC traded down $0.23 during trading hours on Wednesday, hitting $25.48. 132,609 shares of the company traded hands, compared to its average volume of 717,669. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $26.10 and its 200-day simple moving average is $26.76. World Kinect has a one year low of $22.70 and a one year high of $31.64. The company has a market cap of $1.42 billion, a PE ratio of -3.34, a PEG ratio of 1.18 and a beta of 1.31.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.11. The company had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Equities analysts predict that World Kinect will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in shares of World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company's stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of World Kinect during the first quarter worth about $32,000. Quarry LP bought a new stake in World Kinect in the 1st quarter worth approximately $38,000. GAMMA Investing LLC lifted its position in World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock worth $45,000 after buying an additional 344 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in World Kinect in the 2nd quarter worth approximately $96,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

About World Kinect

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.

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