Kewaunee Scientific (NASDAQ:KEQU) Downgraded to Hold at StockNews.com

Kewaunee Scientific (NASDAQ:KEQU) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Kewaunee Scientific Trading Down 2.1 %

Shares of NASDAQ KEQU traded down $0.70 during midday trading on Wednesday, hitting $32.18. The stock had a trading volume of 13,024 shares, compared to its average volume of 17,437. Kewaunee Scientific has a 1-year low of $16.51 and a 1-year high of $55.62. The company has a fifty day moving average price of $40.63 and a 200 day moving average price of $41.55. The company has a market capitalization of $91.39 million, a price-to-earnings ratio of 5.07 and a beta of 0.72. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.48.

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

Institutional Investors Weigh In On Kewaunee Scientific

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in shares of Kewaunee Scientific by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock valued at $4,230,000 after purchasing an additional 10,580 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Kewaunee Scientific during the second quarter worth $413,000. Dimensional Fund Advisors LP increased its holdings in Kewaunee Scientific by 3.6% in 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 last quarter. Finally, Heron Bay Capital Management bought a new position in shares of Kewaunee Scientific during the 2nd quarter valued at $252,000. Institutional investors and hedge funds own 32.69% of the company’s stock.

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.