KEMET’s (NYSE:KEM) Buy Rating Reaffirmed at B. Riley
KEMET Co. (NYSE:KEM)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a research report issued on Tuesday. They currently have a $24.25 price objective on the electronics maker’s stock. B. Riley’s target price indicates a potential upside of 27.97% from the stock’s current price.
KEM has been the topic of several other research reports. BidaskClub raised KEMET from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and set a $12.00 price target on shares of KEMET in a report on Friday, July 14th. TheStreet upgraded KEMET from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded KEMET from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.08.
KEMET (NYSE:KEM) traded up 3.96% on Tuesday, reaching $19.70. 1,187,223 shares of the company’s stock were exchanged. The stock has a market capitalization of $937.48 million, a P/E ratio of 4.07 and a beta of 3.60. The firm’s 50 day moving average is $14.79 and its 200 day moving average is $11.93. KEMET has a 1-year low of $3.24 and a 1-year high of $19.79.
KEMET (NYSE:KEM) last released its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. KEMET had a return on equity of 173.17% and a net margin of 5.84%. The company had revenue of $274 million for the quarter, compared to analysts’ expectations of $282.52 million. During the same quarter in the previous year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. Analysts expect that KEMET will post $1.57 EPS for the current year.
In other KEMET news, insider Charles C. Meeks, Jr. sold 115,000 shares of KEMET stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $14.33, for a total value of $1,647,950.00. Following the transaction, the insider now directly owns 372,393 shares of the company’s stock, valued at approximately $5,336,391.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Per Olof Loof sold 133,334 shares of KEMET 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 completion of the transaction, the chief executive officer now directly owns 1,101,976 shares in the company, valued at $14,468,944.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,590 shares of company stock worth $5,248,257. Company insiders own 3.88% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LLC boosted its stake in KEMET by 8.0% in the fourth quarter. Royce & Associates LLC now owns 3,685,347 shares of the electronics maker’s stock worth $8,734,000 after buying an additional 274,546 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in KEMET by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,078,678 shares of the electronics maker’s stock worth $4,927,000 after buying an additional 89,908 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in KEMET during the fourth quarter worth about $1,072,000. Algert Global LLC boosted its stake in KEMET by 41.3% in the first quarter. Algert Global LLC now owns 397,621 shares of the electronics maker’s stock worth $767,000 after buying an additional 116,263 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in KEMET by 9.7% in the first quarter. Royce & Associates LP now owns 4,042,947 shares of the electronics maker’s stock worth $7,803,000 after buying an additional 357,600 shares in the last quarter. Institutional investors and hedge funds own 56.85% of the company’s stock.
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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