Kewaunee Scientific (NASDAQ:KEQU) Cut 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 report released on Wednesday morning.

Kewaunee Scientific Price Performance

NASDAQ KEQU opened at $53.70 on Wednesday. The company has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $39.90. Kewaunee Scientific has a 52-week low of $15.47 and a 52-week high of $55.62. The firm has a market capitalization of $152.51 million, a price-to-earnings ratio of 8.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.28 and a quick ratio of 1.76.

Kewaunee Scientific (NASDAQ:KEQU) last released 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 company had revenue of $56.70 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Kewaunee Scientific by 13.4% in the 2nd 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 in the last quarter. Ritholtz Wealth Management bought a new stake in Kewaunee Scientific in the second quarter worth approximately $413,000. Dimensional Fund Advisors LP increased its stake in shares of Kewaunee Scientific by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock worth $8,378,000 after purchasing an additional 6,132 shares during the last quarter. Finally, Heron Bay Capital Management bought a new position in shares of Kewaunee Scientific during the 2nd quarter valued at $252,000. 32.69% of the stock is 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.