ValuEngine Downgrades Kemet (KEM) to Hold
Kemet (NYSE:KEM) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other equities analysts have also recently issued reports on the company. B. Riley restated a “buy” rating and issued a $27.50 target price on shares of Kemet in a report on Tuesday, October 31st. TheStreet cut Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. Zacks Investment Research cut Kemet from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub cut Kemet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus restated a “hold” rating on shares of Kemet in a report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.50.
Shares of Kemet (NYSE KEM) traded up $0.03 during mid-day trading on Friday, hitting $15.45. The stock had a trading volume of 2,113,014 shares, compared to its average volume of 2,705,510. Kemet has a one year low of $5.41 and a one year high of $27.35. The firm has a market cap of $871.10, a PE ratio of 15.93 and a beta of 3.47. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75.
Kemet (NYSE:KEM) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $301.47 million for the quarter, compared to analysts’ expectations of $298.51 million. Kemet had a return on equity of 21.07% and a net margin of 31.16%. The firm’s revenue for the quarter was up 60.9% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. sell-side analysts predict that Kemet will post 1.44 EPS for the current year.
In other news, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total transaction of $352,200.24. Following the transaction, the chief financial officer now owns 523,038 shares in the company, valued at $8,410,451.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.88% of the company’s stock.
Several hedge funds have recently modified their holdings of KEM. State of Tennessee Treasury Department acquired a new stake in Kemet during the third quarter valued at $108,000. Denali Advisors LLC acquired a new stake in Kemet during the third quarter valued at $122,000. Advisor Group Inc. acquired a new stake in Kemet during the third quarter valued at $150,000. Globeflex Capital L P acquired a new stake in Kemet during the second quarter valued at $105,000. Finally, JPMorgan Chase & Co. acquired a new stake in Kemet during the second quarter valued at $125,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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