KMG Chemicals, Inc. (NYSE:KMG) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $71.50.
Several research firms have recently weighed in on KMG. Goldman Sachs Group began coverage on shares of KMG Chemicals in a research report on Monday, January 22nd. They issued a “neutral” rating and a $73.00 target price on the stock. KeyCorp reissued a “buy” rating and issued a $70.00 target price (up from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Zacks Investment Research raised shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Thursday, December 14th. Finally, ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
KMG Chemicals (NYSE KMG) opened at $61.86 on Friday. The stock has a market cap of $950.93, a P/E ratio of 23.61 and a beta of 0.35. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. KMG Chemicals has a 52 week low of $36.41 and a 52 week high of $68.13.
KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million for the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. research analysts expect that KMG Chemicals will post 3.17 earnings per share for the current fiscal year.
In other news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $66.85, for a total value of $601,650.00. Following the transaction, the insider now directly owns 1,376,097 shares of the company’s stock, valued at $91,992,084.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $54.22, for a total transaction of $162,660.00. Following the completion of the transaction, the insider now directly owns 1,424,097 shares in the company, valued at $77,214,539.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 654,000 shares of company stock worth $40,750,050. 6.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of KMG. Legal & General Group Plc boosted its holdings in shares of KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 414 shares during the period. Earnest Partners LLC acquired a new stake in shares of KMG Chemicals during the fourth quarter worth approximately $112,000. Ramsey Quantitative Systems acquired a new stake in shares of KMG Chemicals during the fourth quarter worth approximately $138,000. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the third quarter worth approximately $155,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the third quarter worth approximately $221,000. Institutional investors and hedge funds own 70.83% of the company’s stock.
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About KMG Chemicals
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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