Kornit Digital (NASDAQ:KRNT) Raised to “Buy” at ValuEngine

Kornit Digital (NASDAQ:KRNT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, ValuEngine reports.

KRNT has been the subject of several other research reports. TheStreet raised shares of Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. Stifel Nicolaus set a $35.00 target price on shares of Kornit Digital and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Finally, BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.00.

Shares of KRNT stock traded up $0.03 on Friday, hitting $34.22. The company’s stock had a trading volume of 272,100 shares, compared to its average volume of 305,546. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. Kornit Digital has a fifty-two week low of $16.10 and a fifty-two week high of $35.73. The firm’s fifty day moving average price is $32.77 and its 200-day moving average price is $29.88. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 142.58 and a beta of 1.11.

A number of institutional investors and hedge funds have recently made changes to their positions in KRNT. WINTON GROUP Ltd bought a new position in Kornit Digital in the 2nd quarter worth $207,000. Winslow Evans & Crocker Inc. increased its holdings in shares of Kornit Digital by 27.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 19,576 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 4,156 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Kornit Digital by 63.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 710,874 shares of the industrial products company’s stock worth $22,506,000 after purchasing an additional 275,620 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Kornit Digital during the 2nd quarter worth about $2,177,000. Finally, Artemis Investment Management LLP bought a new position in shares of Kornit Digital during the 2nd quarter worth about $6,913,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

Further Reading: How to calculate the annual rate of depreciation

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.