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

Kewaunee Scientific (NASDAQ:KEQU) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Kewaunee Scientific Trading Down 2.9 %

Shares of Kewaunee Scientific stock traded down $1.38 during trading on Friday, reaching $45.52. 12,920 shares of the stock were exchanged, compared to its average volume of 14,899. The company has a quick ratio of 1.76, a current ratio of 2.28 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $45.33 and its 200 day moving average is $37.46. The firm has a market cap of $129.28 million, a price-to-earnings ratio of 7.17 and a beta of 0.77. Kewaunee Scientific has a 1 year low of $15.06 and a 1 year high of $55.62.

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

Hedge Funds Weigh In On Kewaunee Scientific

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in 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 buying an additional 10,580 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 6,132 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Kewaunee Scientific in the 2nd quarter worth approximately $413,000. 32.69% of the stock is owned by institutional investors.

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.