Kewaunee Scientific (NASDAQ:KEQU) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Kewaunee Scientific (NASDAQ:KEQU) from a buy rating to a hold rating in a research note published on Friday.

Kewaunee Scientific Stock Down 0.3 %

KEQU opened at $37.60 on Friday. The stock’s fifty day simple moving average is $36.38 and its 200 day simple moving average is $41.52. Kewaunee Scientific has a 1-year low of $16.51 and a 1-year high of $55.62. The stock has a market cap of $107.99 million, a PE ratio of 6.06 and a beta of 0.73. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.48.

Kewaunee Scientific (NASDAQ:KEQU) last released its quarterly earnings results on Wednesday, September 11th. The technology company reported $0.93 EPS for the quarter. The business had revenue of $48.39 million for the quarter. Kewaunee Scientific had a net margin of 9.13% and a return on equity of 25.87%.

Hedge Funds Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management bought a new position in Kewaunee Scientific during the 2nd quarter worth approximately $413,000. Dimensional Fund Advisors LP increased its position 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 worth $8,378,000 after buying an additional 6,132 shares during the period. Renaissance Technologies LLC raised its stake in Kewaunee Scientific by 13.4% during 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 during the last quarter. Finally, Heron Bay Capital Management bought a new stake in Kewaunee Scientific during the second quarter valued at $252,000. 32.69% of the stock is currently 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.