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

StockNews.com cut shares of Kewaunee Scientific (NASDAQ:KEQU) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Kewaunee Scientific Stock Performance

NASDAQ KEQU opened at $55.14 on Wednesday. Kewaunee Scientific has a 1 year low of $15.47 and a 1 year high of $55.62. 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. The company has a fifty day moving average price of $48.19 and a 200-day moving average price of $39.63.

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

Hedge Funds Weigh In On Kewaunee Scientific

Several institutional investors have recently added to or reduced their stakes in KEQU. Heron Bay Capital Management bought a new position in Kewaunee Scientific during the second quarter valued at about $252,000. Ritholtz Wealth Management bought a new position in Kewaunee Scientific during the second quarter valued at about $413,000. Renaissance Technologies LLC grew its position in 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 buying an additional 10,580 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in 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 buying an additional 6,132 shares during the period. Institutional investors own 32.69% of the company’s stock.

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.