Kemet Corporation (KEM) Given Consensus Rating of “Buy” by Brokerages
Shares of Kemet Corporation (NYSE:KEM) have earned an average 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 assigned a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus price objective of $16.25 for the company and are forecasting that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also given Kemet Corporation an industry rank of 40 out of 265 based on the ratings given to its competitors.
KEM has been the subject of a number of research reports. Zacks Investment Research cut Kemet Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “hold” rating and issued a $12.00 price objective on shares of Kemet Corporation in a research note on Friday, July 14th. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. B. Riley reissued a “buy” rating and issued a $13.50 price objective on shares of Kemet Corporation in a research note on Friday, May 5th. Finally, TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday.
Kemet Corporation (NYSE KEM) traded up 4.09% during midday trading on Friday, reaching $17.55. The company’s stock had a trading volume of 1,297,500 shares. The firm has a market cap of $835.17 million, a P/E ratio of 3.63 and a beta of 3.60. Kemet Corporation has a 52-week low of $3.24 and a 52-week high of $17.94. The firm has a 50 day moving average of $14.79 and a 200 day moving average of $11.93.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.15. Kemet Corporation had a return on equity of 32.96% and a net margin of 33.25%. The firm had revenue of $274 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. Analysts anticipate that Kemet Corporation will post $1.57 earnings per share for the current fiscal year.
In other news, CEO Per Olof Loof sold 133,334 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total value of $1,750,675.42. Following the transaction, the chief executive officer now owns 1,101,976 shares in the company, valued at $14,468,944.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William M. Lowe, Jr. sold 68,422 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $14.36, for a total value of $982,539.92. Following the completion of the transaction, the chief financial officer now owns 616,035 shares in the company, valued at approximately $8,846,262.60. The disclosure for this sale can be found here. Insiders sold 326,256 shares of company stock worth $4,516,065 in the last 90 days. Corporate insiders own 3.88% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Founders Capital Management bought a new position in Kemet Corporation during the first quarter worth $108,000. Legal & General Group Plc bought a new position in Kemet Corporation during the second quarter worth $147,000. TFS Capital LLC bought a new position in Kemet Corporation during the first quarter worth $184,000. Caxton Associates LP bought a new position in Kemet Corporation during the first quarter worth $263,000. Finally, SG Americas Securities LLC bought a new position in Kemet Corporation during the first quarter worth $314,000. Institutional investors own 57.65% of the company’s stock.
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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.
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