World Kinect (NYSE:WKC) PT Raised to $32.00 at JPMorgan Chase & Co.

World Kinect (NYSE:WKC) had its price target boosted by research analysts at JPMorgan Chase & Co. from $29.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 1.91% from the stock’s previous close.

Several other research analysts have also recently commented on WKC. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Monday, September 16th. Bank of America boosted their price target on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus cut their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, World Kinect currently has an average rating of “Hold” and a consensus target price of $30.40.

World Kinect Price Performance

Shares of WKC stock opened at $31.40 on Thursday. World Kinect has a twelve month low of $17.69 and a twelve month high of $31.70. The company has a market capitalization of $1.88 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $27.73 and a 200-day simple moving average of $26.15.

World Kinect (NYSE:WKC) last announced its 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). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that World Kinect will post 2.15 earnings per share for the current fiscal year.

Insider Activity at World Kinect

In related news, Director John L. Manley sold 16,000 shares of the business’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 of the company’s stock, valued at $1,403,083.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated 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 directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On World Kinect

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in shares of World Kinect during the second quarter valued at approximately $65,000. Assetmark Inc. bought a new position in shares of World Kinect during the fourth quarter valued at approximately $96,000. PNC Financial Services Group Inc. bought a new position in shares of World Kinect during the fourth quarter valued at approximately $148,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of World Kinect by 20.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in shares of World Kinect during the second quarter valued at approximately $208,000. 97.06% of the stock is 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.