JPMorgan Chase & Co. Increases World Kinect (NYSE:WKC) Price Target to $32.00

World Kinect (NYSE:WKC) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $29.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.90% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday. Stifel Nicolaus cut their target price on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Bank of America upped their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.40.

World Kinect Stock Up 1.9 %

Shares of NYSE:WKC traded up $0.57 during midday trading on Thursday, reaching $30.80. The company had a trading volume of 212,845 shares, compared to its average volume of 564,063. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $27.52 and its 200 day moving average price is $26.06. The stock has a market cap of $1.85 billion, a PE ratio of 33.10, a P/E/G ratio of 1.08 and a beta of 1.24. World Kinect has a 1-year low of $17.69 and a 1-year high of $30.97.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Research analysts forecast that World Kinect will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other World Kinect news, Director John L. Manley sold 16,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the sale, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the sale, the director now directly owns 49,614 shares in the company, valued at approximately $1,403,083.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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 $28,452,238.96. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On World Kinect

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of World Kinect during the 2nd quarter worth approximately $65,000. Assetmark Inc. bought a new stake in shares of World Kinect in the 4th quarter worth approximately $96,000. PNC Financial Services Group Inc. bought a new stake in shares of World Kinect in the 4th quarter worth approximately $148,000. Point72 Asia Singapore Pte. Ltd. grew its stake in World Kinect by 20.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after buying an additional 1,189 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in World Kinect in the 2nd quarter valued at approximately $208,000. 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.