Kewaunee Scientific (NASDAQ:KEQU) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Kewaunee Scientific (NASDAQ:KEQU) from a strong-buy rating to a buy rating in a report published on Friday morning.

Kewaunee Scientific Stock Performance

Shares of KEQU traded down $1.38 during midday trading on Friday, hitting $45.52. 12,920 shares of the stock traded hands, compared to its average volume of 14,899. The business’s 50 day moving average price is $45.38 and its two-hundred day moving average price is $37.65. Kewaunee Scientific has a 1-year low of $15.06 and a 1-year high of $55.62. The firm has a market capitalization of $129.28 million, a PE ratio of 7.17 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.76 and a current ratio of 2.28.

Kewaunee Scientific (NASDAQ:KEQU) last posted its quarterly earnings data on Wednesday, June 26th. The technology company reported $1.55 EPS for the quarter. The business had revenue of $56.70 million for the quarter. Kewaunee Scientific had a net margin of 9.20% and a return on equity of 28.58%.

Institutional Trading of Kewaunee Scientific

Several institutional investors have recently made changes to their positions in KEQU. Dimensional Fund Advisors LP lifted its position in Kewaunee Scientific by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock worth $8,378,000 after buying an additional 6,132 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Kewaunee Scientific by 13.4% in the second quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock worth $4,230,000 after acquiring an additional 10,580 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Kewaunee Scientific during the second quarter worth $413,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.

About Kewaunee Scientific

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.