World Kinect (NYSE:WKC) PT Raised to $27.00

World Kinect (NYSE:WKC) had its price target lifted by Bank of America from $24.00 to $27.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s target price indicates a potential downside of 6.90% from the company’s previous close.

Separately, Stifel Nicolaus dropped their target price on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.20.

World Kinect Stock Up 3.7 %

NYSE:WKC opened at $29.00 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. World Kinect has a 1-year low of $17.69 and a 1-year high of $29.16. The company has a 50-day moving average of $27.23 and a 200 day moving average of $25.95. The firm has a market cap of $1.71 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. World Kinect’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. As a group, research analysts anticipate that World Kinect will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now owns 49,614 shares in the company, valued at $1,403,083.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in shares of World Kinect during the second quarter valued at $1,187,000. Truist Financial Corp acquired a new position in shares of World Kinect in the second quarter valued at about $528,000. Brandes Investment Partners LP raised its stake in shares of World Kinect by 10.6% in the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock worth $76,714,000 after purchasing an additional 284,560 shares during the last quarter. Algert Global LLC acquired a new stake in shares of World Kinect during the second quarter worth about $1,901,000. Finally, The Manufacturers Life Insurance Company boosted its position in World Kinect by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company’s stock valued at $781,000 after buying an additional 1,570 shares during the last quarter. 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.