KeyBanc Starts KLX Inc (KLXIV) at Hold
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Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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KeyBanc initiated coverage on KLX Inc (NASDAQ: KLXIV) with a Hold rating.
Analyst Michael F. Ciarmoli said, "As a leading provider of consumables, logistics and support services to the global commercial aerospace and domestic oil and gas markets, we expect that KLX will continue to benefit from its strong customer relationships, compelling market share position and emerging energy related opportunities. Moreover, with 76% revenue exposure to the global commercial aerospace market (two-thirds OE production, one-third aftermarket), we believe KLX will offer investors a level of visibility that is often not associated with other shorter-cycle industrial distributors."
"However, even though KLX will have a seasoned and experienced management team with what we consider to be above peer average visibility, we believe this still immature public company will be a bit of a “show me” story out of the gate and will likely have to deal with several near-term headwinds once its separation from parent company BE Aerospace, Inc. (BEAV-NASDAQ; BUY) is complete," he added.
For an analyst ratings summary and ratings history on KLX Inc click here. For more ratings news on KLX Inc click here.
Shares of KLX Inc closed at $47.04 yesterday.
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