Qnity Electronics (NYSE:Q) Stock Price Target Raised at Barclays

Key Points

• Barclays raised its price target on Qnity Electronics from $211 to $216 and maintained an “overweight” rating, implying 86.28% upside from the previous close.
• Analyst sentiment is broadly positive: nine analysts rate the stock Buy and two Hold, for a “Moderate Buy” consensus and an average target of $164.78.
• Qnity reported quarterly EPS of $1.46, beating the $1.18 estimate, and shares rose 5.4% on Friday to $115.95.

Qnity Electronics (NYSE:Q - Get Free Report) had its target price increased by investment analysts at Barclays from $211.00 to $216.00 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the premier technology solutions leader's stock. Barclays's target price indicates a potential upside of 86.28% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Qnity Electronics in a research report on Wednesday, August 5th. Mizuho reduced their target price on shares of Qnity Electronics from $180.00 to $160.00 and set an "outperform" rating for the company in a research report on Thursday, October 1st. Truist Financial started coverage on shares of Qnity Electronics in a research report on Wednesday, October 14th. They issued a "buy" rating and a $170.00 target price for the company. Royal Bank Of Canada decreased their price target on shares of Qnity Electronics from $189.00 to $160.00 and set an "outperform" rating on the stock in a research note on Thursday, October 15th. Finally, Zacks Research lowered shares of Qnity Electronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.78.

Qnity Electronics Stock Up 5.4%

Shares of Qnity Electronics stock traded up $5.91 during trading hours on Friday, reaching $115.95. 534,240 shares of the company's stock were exchanged, compared to its average volume of 2,018,300. The stock has a market cap of $24.26 billion and a P/E ratio of 43.40. The company has a 50 day moving average of $121.22 and a two-hundred day moving average of $129.26. The company has a current ratio of 2.09, a quick ratio of 1.50 and a debt-to-equity ratio of 0.51. Qnity Electronics has a fifty-two week low of $72.81 and a fifty-two week high of $177.28.

Qnity Electronics (NYSE:Q - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The premier technology solutions leader reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.28. The company had revenue of $1.56 billion for the quarter. Qnity Electronics had a net margin of 10.16% and a return on equity of 12.63%. On average, sell-side analysts forecast that Qnity Electronics will post 4.49 EPS for the current fiscal year.

Insider Buying and Selling at Qnity Electronics

In other news, Director Bondt De purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $138.14 per share, with a total value of $138,140.00. Following the completion of the purchase, the director owned 6,647 shares of the company's stock, valued at $918,216.58. This trade represents a 17.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Qnity Electronics

A number of hedge funds have recently made changes to their positions in Q. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Qnity Electronics by 71.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 213 shares of the premier technology solutions leader's stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. First Bancorp Inc ME bought a new stake in Qnity Electronics during the second quarter worth $32,000. Markowski Investments bought a new stake in Qnity Electronics during the second quarter worth $33,000. NBH Bank bought a new stake in Qnity Electronics during the second quarter worth $34,000. Finally, Basepoint Wealth LLC purchased a new position in Qnity Electronics in the first quarter worth $39,000.

Qnity Electronics Company Profile

Qnity Electronics, Inc is a global materials and solutions company serving the semiconductor and advanced electronics industries. The company develops and supplies materials used throughout the manufacturing process for integrated circuits, including wafer fabrication, lithography, cleaning, chemical mechanical planarization and advanced packaging.

Its product portfolio includes semiconductor-grade materials such as photoresists, dielectric materials, CMP pads and slurries, cleaners, removers and other process-enabling technologies.

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