Kemet Corporation (KEM) Upgraded to Buy by ValuEngine
Kemet Corporation (NYSE:KEM) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Several other research firms also recently issued reports on KEM. BidaskClub downgraded shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating on shares of Kemet Corporation in a report on Monday, August 7th. B. Riley restated a “buy” rating and set a $13.50 price objective on shares of Kemet Corporation in a report on Wednesday, May 10th. Zacks Investment Research upgraded shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a report on Friday, July 14th. Finally, TheStreet upgraded shares of Kemet Corporation from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Kemet Corporation has an average rating of “Buy” and a consensus target price of $18.08.
Shares of Kemet Corporation (NYSE:KEM) opened at 24.36 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of 5.05 and a beta of 3.60. Kemet Corporation has a one year low of $3.24 and a one year high of $24.50. The stock’s 50 day moving average is $18.97 and its 200-day moving average is $13.96.
Kemet Corporation (NYSE:KEM) last posted its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm had revenue of $274 million for the quarter, compared to the consensus estimate of $282.52 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities analysts forecast that Kemet Corporation will post $1.57 EPS for the current year.
In related news, insider Charles C. Meeks, Jr. sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $18.89, for a total value of $566,700.00. Following the sale, the insider now owns 259,781 shares in the company, valued at $4,907,263.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stefano Vetralla sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $18.70, for a total value of $168,300.00. Following the completion of the sale, the vice president now owns 51,611 shares in the company, valued at approximately $965,125.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,859 shares of company stock worth $1,576,350. Corporate insiders own 3.88% of the company’s stock.
Large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC raised its stake in shares of Kemet Corporation by 13.1% in the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock worth $317,000 after buying an additional 2,875 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Kemet Corporation by 5.4% in the second quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock worth $1,150,000 after buying an additional 4,567 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Kemet Corporation during the second quarter worth approximately $105,000. Founders Capital Management purchased a new stake in shares of Kemet Corporation during the first quarter worth approximately $108,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Kemet Corporation during the second quarter worth approximately $125,000. Hedge funds and other institutional investors own 68.02% of the company’s stock.
Kemet Corporation Company Profile
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
Receive News & Stock Ratings for Kemet Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kemet Corporation and related stocks with our FREE daily email newsletter.