Zacks Investment Research Upgrades Key Tronic Corp. (KTCC) to Hold
Key Tronic Corp. (NASDAQ:KTCC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “KEY TRONIC CORP. and its subsidiaries are principally engaged in the design, development, and manufacture of input devices, primarily keyboards, for personal computers, terminals, and workstations. “
Separately, B. Riley restated a “buy” rating and set a $12.00 price objective on shares of Key Tronic Corp. in a report on Tuesday, July 26th.
Shares of Key Tronic Corp. (NASDAQ:KTCC) opened at 7.46 on Wednesday. The stock has a market capitalization of $80.24 million, a PE ratio of 12.86 and a beta of 0.98. The company’s 50 day moving average price is $7.50 and its 200 day moving average price is $7.47. Key Tronic Corp. has a 52-week low of $6.09 and a 52-week high of $10.31.
Key Tronic Corp. (NASDAQ:KTCC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Key Tronic Corp. had a return on equity of 5.70% and a net margin of 1.35%. The company earned $123.90 million during the quarter, compared to analysts’ expectations of $118.40 million. On average, equities research analysts anticipate that Key Tronic Corp. will post $0.80 EPS for the current year.
A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of Key Tronic Corp. by 24.2% in the first quarter. Renaissance Technologies LLC now owns 136,200 shares of the company’s stock worth $974,000 after buying an additional 26,500 shares during the period. Adirondack Research & Management Inc. raised its stake in shares of Key Tronic Corp. by 82.7% in the first quarter. Adirondack Research & Management Inc. now owns 66,944 shares of the company’s stock worth $479,000 after buying an additional 30,294 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Key Tronic Corp. by 10.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 31,084 shares of the company’s stock worth $222,000 after buying an additional 3,008 shares during the period. TFS Capital LLC purchased a new stake in shares of Key Tronic Corp. during the second quarter worth $128,000. Finally, Vanguard Group Inc. raised its stake in shares of Key Tronic Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 470,766 shares of the company’s stock worth $3,545,000 after buying an additional 11,108 shares during the period. 42.10% of the stock is owned by institutional investors and hedge funds.
Key Tronic Corp. Company Profile
Key Tronic Corporation is engaged in providing electronic manufacturing services and solutions for original equipment manufacturers (OEMs). The Company also manufactures keyboards and other input devices. The Company provides engineering services, procurement and distribution across the world, materials management, world-class manufacturing and assembly services, in-house testing and unparalleled customer service.
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