Stifel Nicolaus Cuts World Kinect (NYSE:WKC) Price Target to $30.00

World Kinect (NYSE:WKC) had its target price reduced by stock analysts at Stifel Nicolaus from $32.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 0.17% from the company’s previous close.

World Kinect Stock Performance

NYSE WKC traded up $2.35 on Friday, hitting $29.95. 242,683 shares of the company’s stock traded hands, compared to its average volume of 552,427. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect has a 1-year low of $21.38 and a 1-year high of $31.70. The firm’s 50-day moving average price is $27.84 and its two-hundred day moving average price is $28.42. The firm has a market capitalization of $1.74 billion, a PE ratio of 13.33, a P/E/G ratio of 0.88 and a beta of 1.27.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The business had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $10.57 billion. As a group, analysts expect that World Kinect will post 2.08 EPS for the current year.

Hedge Funds Weigh In On World Kinect

Several institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its holdings in shares of World Kinect by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 20,252 shares of the company’s stock valued at $557,000 after purchasing an additional 990 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in World Kinect in the 4th quarter worth $505,000. Public Employees Retirement System of Ohio increased its holdings in World Kinect by 23.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 61,265 shares of the company’s stock worth $1,685,000 after acquiring an additional 11,640 shares in the last quarter. GTS Securities LLC increased its holdings in World Kinect by 52.1% in the 4th quarter. GTS Securities LLC now owns 15,668 shares of the company’s stock worth $431,000 after acquiring an additional 5,368 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in World Kinect by 29.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 185,984 shares of the company’s stock worth $5,116,000 after acquiring an additional 42,487 shares in the last quarter. 97.06% of the stock is owned by hedge funds and other 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.