Stifel Nicolaus Has Lowered Expectations for World Kinect (NYSE:WKC) Stock Price

World Kinect (NYSE:WKC) had its target price reduced by analysts at Stifel Nicolaus from $32.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 2.33% from the company’s previous close.

World Kinect Stock Performance

NYSE WKC opened at $30.72 on Friday. The business’s 50 day moving average price is $27.89 and its 200-day moving average price is $28.47. World Kinect has a fifty-two week low of $21.38 and a fifty-two week high of $31.70. The company has a market cap of $1.78 billion, a P/E ratio of 28.98, a P/E/G ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. Sell-side analysts predict that World Kinect will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WKC. Pacer Advisors Inc. purchased a new position in World Kinect during the 3rd quarter valued at $138,806,000. Hennessy Advisors Inc. purchased a new stake in World Kinect in the fourth quarter worth $50,707,000. Invesco Ltd. lifted its position in shares of World Kinect by 30.6% during the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock worth $84,399,000 after purchasing an additional 719,631 shares during the last quarter. Millennium Management LLC boosted its stake in shares of World Kinect by 639.9% during the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company’s stock valued at $14,001,000 after purchasing an additional 440,168 shares during the period. Finally, EVR Research LP grew its holdings in shares of World Kinect by 163.0% in the fourth quarter. EVR Research LP now owns 710,000 shares of the company’s stock worth $19,532,000 after purchasing an additional 440,000 shares during the last quarter. Institutional investors 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.