Zacks: Analysts Set $40.50 Target Price for KMG Chemicals, Inc. (KMG)
KMG Chemicals, Inc. (NYSE:KMG) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a 12 month consensus price target of $40.50 for the company and are predicting that the company will post $0.47 EPS for the current quarter, according to Zacks. Zacks has also given KMG Chemicals an industry rank of 160 out of 265 based on the ratings given to related companies.
Shares of KMG Chemicals (NYSE:KMG) traded down 1.13% during trading on Tuesday, reaching $44.60. The company’s stock had a trading volume of 55,804 shares. The firm’s 50-day moving average is $42.32 and its 200-day moving average is $36.27. The stock has a market capitalization of $530.16 million, a PE ratio of 24.10 and a beta of 0.63. KMG Chemicals has a 12-month low of $20.85 and a 12-month high of $46.80.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Monday, March 13th. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.15. The company earned $79.10 million during the quarter, compared to analysts’ expectations of $73.70 million. KMG Chemicals had a return on equity of 14.25% and a net margin of 6.66%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that KMG Chemicals will post $2.03 earnings per share for the current year.
In related news, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $43.15, for a total transaction of $129,450.00. Following the completion of the transaction, the insider now directly owns 1,910,097 shares in the company, valued at $82,420,685.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David L. Hatcher sold 6,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $42.95, for a total value of $257,700.00. Following the transaction, the insider now owns 1,916,097 shares of the company’s stock, valued at $82,296,366.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,876 shares of company stock valued at $4,278,521. 6.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. PEAK6 Investments L.P. acquired a new stake in KMG Chemicals during the fourth quarter worth approximately $494,000. Dynamic Technology Lab Private Ltd acquired a new stake in KMG Chemicals during the fourth quarter worth approximately $257,000. Brown Advisory Inc. boosted its stake in KMG Chemicals by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 346,970 shares of the specialty chemicals company’s stock worth $13,495,000 after buying an additional 11,907 shares during the period. Trexquant Investment LP acquired a new stake in KMG Chemicals during the fourth quarter worth approximately $266,000. Finally, Martingale Asset Management L P boosted its stake in KMG Chemicals by 53.7% in the fourth quarter. Martingale Asset Management L P now owns 60,433 shares of the specialty chemicals company’s stock worth $2,351,000 after buying an additional 21,116 shares during the period. Institutional investors and hedge funds own 68.39% of the company’s stock.
KMG Chemicals Company Profile
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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