Weiss Ratings Reaffirms “Sell (D+)” Rating for World Kinect (NYSE:WKC)

World Kinect (NYSE:WKC)‘s stock had its “sell (d+)” rating reaffirmed by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on WKC. Morgan Stanley cut their target price 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. Zacks Research upgraded World Kinect from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $33.00 price target (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, World Kinect currently has an average rating of “Hold” and a consensus price target of $28.75.

World Kinect Trading Down 1.4%

NYSE:WKC opened at $25.18 on Wednesday. World Kinect has a 1-year low of $22.70 and a 1-year high of $31.64. The business’s 50-day moving average price is $26.02 and its two-hundred day moving average price is $26.73. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.30, a PEG ratio of 1.16 and a beta of 1.31.

World Kinect (NYSE:WKC) last released its earnings results 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 firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, equities analysts expect that World Kinect will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of World Kinect by 27.6% in the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after buying an additional 344 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of World Kinect by 5.1% in the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock valued at $262,000 after buying an additional 451 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of World Kinect by 14.5% in the second quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock valued at $113,000 after buying an additional 503 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of World Kinect by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock valued at $881,000 after buying an additional 509 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of World Kinect by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock valued at $1,799,000 after buying an additional 509 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.

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.