Qnity Electronics (NYSE:Q) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Qnity Electronics to “strong buy” from “hold.” Across analysts, the stock has a consensus “Buy” rating and an average price target of $164.78.
• Qnity reported quarterly EPS of $1.46, beating the $1.18 consensus estimate, on revenue of $1.56 billion. Shares rose 6.1% on Thursday to $116.78.
• Analyst opinions and price targets vary: Barclays raised its target to $216, while Mizuho and RBC cut theirs to $160; Truist initiated coverage with a $170 target.

Qnity Electronics (NYSE:Q - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday, Zacks reports.

Q has been the subject of several other research reports. Weiss Ratings downgraded shares of Qnity Electronics from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, October 28th. Truist Financial began coverage on shares of Qnity Electronics in a report on Wednesday, October 14th. They set a "buy" rating and a $170.00 price target on the stock. Mizuho reduced their price objective 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. Barclays increased their price objective on shares of Qnity Electronics from $211.00 to $216.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Royal Bank Of Canada dropped their target price on shares of Qnity Electronics from $189.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Qnity Electronics has an average rating of "Buy" and a consensus price target of $164.78.

Qnity Electronics Stock Up 6.1%

Shares of Q stock traded up $6.74 during trading hours on Thursday, reaching $116.78. The company had a trading volume of 2,531,491 shares, compared to its average volume of 1,775,842. The company has a market cap of $24.43 billion and a price-to-earnings ratio of 43.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.01 and a quick ratio of 1.50. Qnity Electronics has a 12 month low of $72.81 and a 12 month high of $177.28. The business has a fifty day simple moving average of $121.03 and a 200-day simple moving average of $129.37.

Qnity Electronics (NYSE:Q - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The premier technology solutions leader reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.28. Qnity Electronics had a return on equity of 10.83% and a net margin of 11.25%. The business had revenue of $1.56 billion during the quarter. On average, research analysts expect that Qnity Electronics will post 4.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bondt De acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $138.14 per share, for a total transaction of $138,140.00. Following the completion of the acquisition, the director owned 6,647 shares of the company's stock, valued at approximately $918,216.58. This represents a 17.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of Q. First Bancorp Inc ME bought a new stake in shares of Qnity Electronics in the 2nd quarter worth approximately $32,000. Markowski Investments purchased a new stake in Qnity Electronics in the second quarter worth $33,000. NBH Bank purchased a new stake in Qnity Electronics in the second quarter worth $34,000. Annis Gardner Whiting Capital Advisors LLC raised its stake 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 buying an additional 89 shares during the period. Finally, Bank & Trust Co bought a new stake in shares of Qnity Electronics in the second quarter valued at $43,000.

About Qnity Electronics

Qnity Electronics develops materials and technologies used in semiconductor manufacturing and electronic interconnect applications. Its products support processes such as chip fabrication and advanced packaging, as well as the production and assembly of circuit boards.

The company serves customers across the global electronics supply chain, including semiconductor manufacturers and makers of electronic components. Its portfolio includes materials designed to help enable reliable, high-performance devices and connections.

Qnity became an independent company through the separation of DuPont's electronics business.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.