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

World Kinect (NYSE:WKC) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $32.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.91% from the company’s previous close.

WKC has been the subject of several other research reports. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. Stifel Nicolaus lowered their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Bank of America boosted their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Two investment 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. Based on data from MarketBeat, World Kinect currently has a consensus rating of “Hold” and an average target price of $30.40.

World Kinect Stock Performance

Shares of WKC stock opened at $31.40 on Thursday. World Kinect has a 12-month low of $17.69 and a 12-month high of $31.70. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The business has a 50 day simple moving average of $27.73 and a 200 day simple moving average of $26.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98.

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 business had revenue of $10.97 billion during 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 business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, equities research analysts anticipate that World Kinect will post 2.15 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in World Kinect during the 2nd quarter worth about $65,000. Assetmark Inc. purchased a new position in World Kinect during the 4th quarter valued at about $96,000. PNC Financial Services Group Inc. purchased a new position in World Kinect during the 4th quarter valued at about $148,000. Point72 Asia Singapore Pte. Ltd. grew its stake in World Kinect by 20.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after acquiring an additional 1,189 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in World Kinect during the 2nd quarter valued at about $208,000. 97.06% of the stock is owned by institutional investors and hedge funds.

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.