KMG Chemicals, Inc. (KMG) Given Average Rating of “Hold” by Brokerages

Shares of KMG Chemicals, Inc. (NYSE:KMG) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $71.50.

KMG has been the topic of a number of research analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a report on Wednesday, December 13th. ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a report on Thursday, December 14th. Finally, Goldman Sachs Group initiated coverage on KMG Chemicals in a report on Monday, January 22nd. They issued a “neutral” rating and a $73.00 target price on the stock.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $57.40, for a total value of $861,000.00. Following the sale, the insider now owns 896,097 shares of the company’s stock, valued at approximately $51,435,967.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David L. Hatcher sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $57.74, for a total value of $2,598,300.00. Following the completion of the sale, the insider now directly owns 896,097 shares in the company, valued at approximately $51,740,640.78. The disclosure for this sale can be found here. Insiders sold a total of 651,000 shares of company stock worth $40,587,030 in the last ninety days. Insiders own 6.10% of the company’s stock.

Several large investors have recently made changes to their positions in KMG. Legal & General Group Plc grew its holdings in shares of KMG Chemicals by 23.2% during the 2nd 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 in the last quarter. Earnest Partners LLC acquired a new stake in shares of KMG Chemicals during the 4th quarter worth approximately $112,000. Ramsey Quantitative Systems acquired a new stake in shares of KMG Chemicals during the 4th quarter worth approximately $138,000. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the 3rd quarter worth approximately $155,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the 3rd quarter worth approximately $221,000. 70.83% of the stock is currently owned by institutional investors.

Shares of KMG Chemicals (NYSE KMG) traded down $0.08 during midday trading on Friday, hitting $60.42. The stock had a trading volume of 67,415 shares, compared to its average volume of 136,222. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. The firm has a market cap of $928.80, a price-to-earnings ratio of 31.63 and a beta of 0.35. KMG Chemicals has a fifty-two week low of $36.41 and a fifty-two week high of $68.13.

KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company’s quarterly revenue was up 44.7% on a year-over-year basis. analysts predict that KMG Chemicals will post 3.17 earnings per share for the current year.

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KMG Chemicals Company Profile

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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