Gabelli Lowers KMG Chemicals (KMG) to Hold

Share on StockTwits

Gabelli cut shares of KMG Chemicals (NYSE:KMG) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of KMG Chemicals from a hold rating to a buy rating and set a $89.00 target price for the company in a research report on Thursday, June 14th. ValuEngine upgraded shares of KMG Chemicals from a hold rating to a buy rating in a research report on Tuesday, June 12th. Finally, KeyCorp restated an equal weight rating on shares of KMG Chemicals in a research report on Thursday, June 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $77.33.

NYSE KMG opened at $76.90 on Thursday. KMG Chemicals has a 52 week low of $45.81 and a 52 week high of $79.35. The company has a quick ratio of 1.71, a current ratio of 2.70 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 0.52 and a beta of 0.28.

KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, June 11th. The specialty chemicals company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.84 by $0.26. KMG Chemicals had a net margin of 11.87% and a return on equity of 16.21%. The firm had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $112.87 million. During the same quarter in the prior year, the firm earned $0.53 EPS. KMG Chemicals’s quarterly revenue was up 45.3% on a year-over-year basis. equities analysts expect that KMG Chemicals will post 4 earnings per share for the current year.

In other news, VP Christopher W. Gonser sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $77.04, for a total value of $385,200.00. Following the completion of the sale, the vice president now directly owns 33,213 shares of the company’s stock, valued at approximately $2,558,729.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of KMG Chemicals in the 1st quarter worth approximately $124,000. Sei Investments Co. lifted its stake in shares of KMG Chemicals by 24,200.0% in the 1st quarter. Sei Investments Co. now owns 2,673 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 2,662 shares during the period. Sanders Morris Harris LLC acquired a new stake in shares of KMG Chemicals in the 2nd quarter worth approximately $205,000. Teacher Retirement System of Texas acquired a new stake in shares of KMG Chemicals in the 2nd quarter worth approximately $208,000. Finally, Jane Street Group LLC acquired a new stake in shares of KMG Chemicals in the 1st quarter worth approximately $239,000. 90.83% of the stock is owned by institutional investors.

About KMG Chemicals

KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.

Featured Story: What does EPS mean?

Receive News & Ratings for KMG Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KMG Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply