KEMET (NYSE:KEM) Rating Lowered to Hold at B. Riley

Share on StockTwits

KEMET (NYSE:KEM) was downgraded by equities research analysts at B. Riley from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports. They presently have a $27.20 price objective on the electronics maker’s stock, down from their previous price objective of $29.00. B. Riley’s price objective suggests a potential upside of 3.98% from the company’s current price.

KEM has been the subject of several other reports. Zacks Investment Research lowered KEMET from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Stifel Nicolaus lowered KEMET from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine upgraded KEMET from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.

KEM opened at $26.16 on Wednesday. The stock has a fifty day moving average of $21.40 and a 200-day moving average of $19.04. The firm has a market capitalization of $1.36 billion, a P/E ratio of 7.76 and a beta of 2.57. KEMET has a 12-month low of $15.55 and a 12-month high of $26.24. The company has a quick ratio of 1.55, a current ratio of 2.49 and a debt-to-equity ratio of 0.42.

KEMET (NYSE:KEM) last released its earnings results on Tuesday, November 12th. The electronics maker reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. KEMET had a return on equity of 36.26% and a net margin of 15.12%. The company had revenue of $327.40 million during the quarter, compared to analyst estimates of $324.90 million. During the same quarter in the prior year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts expect that KEMET will post 2.62 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in KEM. Meeder Asset Management Inc. purchased a new stake in shares of KEMET during the third quarter worth $37,000. Centaurus Financial Inc. acquired a new position in KEMET during the first quarter worth $42,000. Tower Research Capital LLC TRC increased its position in KEMET by 3,052.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,184 shares of the electronics maker’s stock worth $58,000 after buying an additional 3,083 shares during the last quarter. NEXT Financial Group Inc acquired a new position in KEMET during the second quarter worth $59,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in KEMET by 233.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,836 shares of the electronics maker’s stock worth $72,000 after buying an additional 2,685 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

KEMET Company Profile

KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.

See Also: Initial Coin Offering (ICO)

The Fly

Receive News & Ratings for KEMET Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KEMET and related companies with MarketBeat.com's FREE daily email newsletter.