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 reissued by equities researchers at Raymond James Financial in a research report issued on Friday,Benzinga reports. They presently have a $33.00 target price on the stock, down from their prior target price of $35.00. Raymond James Financial's target price would indicate a potential upside of 29.51% from the stock's previous close.

Separately, Bank of America lowered their price objective on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.80.

World Kinect Price Performance

Shares of WKC stock traded down $1.79 on Friday, reaching $25.48. The company had a trading volume of 379,319 shares, compared to its average volume of 706,253. The business's 50-day moving average is $28.24 and its 200 day moving average is $27.56. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.44 billion, a PE ratio of 106.15, a price-to-earnings-growth ratio of 1.30 and a beta of 1.35. World Kinect has a one year low of $22.70 and a one year high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.48 by $0.11. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a net margin of 0.05% and a return on equity of 6.46%. Equities research analysts forecast that World Kinect will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On World Kinect

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in World Kinect by 27.6% during the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock valued at $45,000 after acquiring an additional 344 shares in the last quarter. Cetera Investment Advisers increased its position in shares of World Kinect by 5.1% during the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company's stock worth $262,000 after purchasing an additional 451 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of World Kinect by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company's stock valued at $881,000 after purchasing an additional 509 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of World Kinect by 0.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company's stock valued at $1,799,000 after purchasing an additional 509 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of World Kinect by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock valued at $893,000 after buying an additional 707 shares during the period. Institutional investors and hedge funds 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.

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