World Kinect (NYSE:WKC) Shares Gap Down - Should You Sell?

World Kinect Co. (NYSE:WKC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $31.34, but opened at $27.50. World Kinect shares last traded at $28.62, with a volume of 461,997 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of World Kinect from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Bank of America lifted their price objective on World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a research report on Friday, September 13th. Morgan Stanley downgraded World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research note on Monday, September 16th. Finally, Stifel Nicolaus downgraded shares of World Kinect from a "buy" rating to a "hold" rating and decreased their target price for the company from $33.00 to $32.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, World Kinect presently has a consensus rating of "Hold" and a consensus price target of $30.20.

World Kinect Price Performance

The firm has a market capitalization of $1.58 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The business's 50 day moving average is $29.66 and its two-hundred day moving average is $27.03.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, hitting analysts' consensus estimates of $0.62. The company had revenue of $10.49 billion for the quarter, compared to analysts' expectations of $11.77 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The firm's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Equities research analysts anticipate that World Kinect Co. will post 2.15 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. World Kinect's dividend payout ratio is currently 73.12%.

World Kinect declared that its Board of Directors has authorized a stock buyback program on Monday, September 9th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 11% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction on 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 owns 1,019,063 shares in the company, valued at $28,452,238.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director John L. Manley sold 16,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $1,403,083.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect 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 transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On World Kinect

Large investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of World Kinect during the second quarter valued at $65,000. PNC Financial Services Group Inc. purchased a new position in shares of World Kinect during the fourth quarter valued at $148,000. Everence Capital Management Inc. bought a new stake in shares of World Kinect in the 3rd quarter valued at approximately $210,000. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 worth $179,000 after purchasing an additional 1,189 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in shares of World Kinect during the third quarter worth $253,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

About World Kinect

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.