World Kinect's (WKC) Outperform Rating Reaffirmed at Raymond James Financial

Key Points

• Raymond James Financial has reaffirmed an "outperform" rating for World Kinect (WKC) with a revised target price of $33.00, down from $35.00, indicating a potential upside of 29.51% from the stock's previous close.
• In contrast, Bank of America has lowered its price target for the stock from $27.00 to $26.00, assigning an "underperform" rating, reflecting a mixed sentiment among analysts.
• World Kinect's stock price recently fell to $25.48 amid varying analyst ratings, with a consensus rating of "Hold" and an average target price of $29.80.

World Kinect (NYSE:WKC - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Raymond James Financial in a research note issued on Friday,Benzinga reports. They currently have a $33.00 price objective on the stock, down from their prior price objective of $35.00. Raymond James Financial's target price would indicate a potential upside of 32.72% from the stock's previous close.

Separately, Bank of America decreased their target price on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $29.80.

World Kinect Trading Down 1.6%

Shares of WKC traded down $0.40 during trading hours on Friday, hitting $24.87. The stock had a trading volume of 799,006 shares, compared to its average volume of 714,695. The company's fifty day simple moving average is $28.16 and its 200 day simple moving average is $27.52. World Kinect has a 12-month low of $22.70 and a 12-month high of $31.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $1.41 billion, a P/E ratio of -3.26, a P/E/G ratio of 1.21 and a beta of 1.39.

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

Institutional Investors Weigh In On World Kinect

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its stake in shares of World Kinect by 94.5% in the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company's stock valued at $946,000 after purchasing an additional 16,211 shares during the period. CWA Asset Management Group LLC acquired a new position in World Kinect during the first quarter worth $490,000. Sei Investments Co. increased its position in shares of World Kinect by 49.9% during the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company's stock worth $904,000 after purchasing an additional 10,944 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in World Kinect during the 4th quarter valued at $2,978,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of World Kinect during the fourth quarter worth approximately $1,725,000. 97.06% of the stock is owned by institutional investors and hedge funds.

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.