Kewaunee Scientific (NASDAQ:KEQU) Cut to Buy at StockNews.com

Kewaunee Scientific (NASDAQ:KEQU) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Kewaunee Scientific Stock Up 1.2 %

KEQU stock traded up $0.64 during midday trading on Wednesday, hitting $55.14. The stock had a trading volume of 23,031 shares, compared to its average volume of 15,278. The business has a 50-day moving average of $48.19 and a two-hundred day moving average of $39.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.28 and a quick ratio of 1.76. The firm has a market cap of $156.60 million, a price-to-earnings ratio of 8.68 and a beta of 0.77. Kewaunee Scientific has a 52-week low of $15.47 and a 52-week high of $55.62.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Kewaunee Scientific by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock valued at $8,378,000 after purchasing an additional 6,132 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kewaunee Scientific by 13.4% during the second quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock valued at $4,230,000 after purchasing an additional 10,580 shares during the last quarter. Heron Bay Capital Management purchased a new position in shares of Kewaunee Scientific during the second quarter valued at approximately $252,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Kewaunee Scientific during the second quarter valued at approximately $413,000. 32.69% of the stock is owned by hedge funds and other institutional investors.

Kewaunee Scientific Company Profile

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.