JPMorgan Chase & Co. Boosts World Kinect (NYSE:WKC) Price Target to $32.00

World Kinect (NYSE:WKC) had its price target boosted by JPMorgan Chase & Co. from $29.00 to $32.00 in a research report released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts also recently issued reports on WKC. 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 report on Friday, July 26th. Bank of America raised their target price on World Kinect from $24.00 to $27.00 and gave the company an underperform rating in a research note on Friday, September 13th. Finally, Morgan Stanley lowered shares of World Kinect from an equal weight rating to an underweight rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $30.40.

World Kinect Price Performance

WKC stock opened at $31.40 on Thursday. The firm has a market cap of $1.88 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. World Kinect has a 1 year low of $17.69 and a 1 year high of $31.70. The stock has a 50-day simple moving average of $27.73 and a 200-day simple moving average of $26.17.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts predict that World Kinect will post 2.15 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s payout ratio is presently 73.12%.

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction 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 approximately $28,452,238.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction dated 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 owns 49,614 shares in the company, valued at $1,403,083.92. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On World Kinect

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of World Kinect during the 2nd quarter worth approximately $65,000. Assetmark Inc. acquired a new position in shares of World Kinect in the 4th quarter valued at $96,000. PNC Financial Services Group Inc. bought a new position in shares of World Kinect in the 4th quarter worth $148,000. Point72 Asia Singapore Pte. Ltd. grew its stake 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 worth $179,000 after purchasing an additional 1,189 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in World Kinect in the second quarter valued at about $208,000. 97.06% of the stock is currently 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.