Kewaunee Scientific (NASDAQ:KEQU) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Kewaunee Scientific's stock price has surpassed its 200-day moving average, trading as high as $57.00 before settling at $56.03.
• Analysts recently upgraded the stock from a "hold" to a "buy" rating, indicating positive sentiment towards the company's performance.
• The company's quarterly earnings showed an earnings per share of $1.95 with a revenue of $77.15 million, reflecting strong financial health.

Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.55 and traded as high as $57.00. Kewaunee Scientific shares last traded at $56.03, with a volume of 3,764 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Kewaunee Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

Kewaunee Scientific Stock Down 1.7%

The stock's 50-day moving average price is $55.80 and its two-hundred day moving average price is $46.36. The stock has a market capitalization of $167.24 million, a PE ratio of 14.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.59 and a current ratio of 2.20.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The technology company reported $1.95 earnings per share for the quarter. Kewaunee Scientific had a net margin of 4.74% and a return on equity of 26.02%. The firm had revenue of $77.15 million for the quarter.

Insider Buying and Selling

In other Kewaunee Scientific news, CFO Donald T. Gardner III sold 3,000 shares of Kewaunee Scientific stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $58.59, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer directly owned 14,564 shares of the company's stock, valued at $853,304.76. The trade was a 17.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Kewaunee Scientific

Large investors have recently added to or reduced their stakes in the company. Mink Brook Asset Management LLC purchased a new stake in shares of Kewaunee Scientific during the second quarter worth about $370,000. Raymond James Financial Inc. purchased a new stake in Kewaunee Scientific in the 2nd quarter worth approximately $60,000. First Trust Advisors LP raised its stake in shares of Kewaunee Scientific by 3.4% during the 2nd quarter. First Trust Advisors LP now owns 6,726 shares of the technology company's stock worth $395,000 after buying an additional 222 shares during the period. Minerva Advisors LLC raised its stake in shares of Kewaunee Scientific by 5.0% during the 2nd quarter. Minerva Advisors LLC now owns 77,442 shares of the technology company's stock worth $4,501,000 after buying an additional 3,677 shares during the period. Finally, De Lisle Partners LLP raised its stake in shares of Kewaunee Scientific by 6.7% during the 2nd quarter. De Lisle Partners LLP now owns 47,977 shares of the technology company's stock worth $2,811,000 after buying an additional 3,029 shares during the period. 32.69% of the stock is currently owned by institutional investors.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.