Kornit Digital (NASDAQ:KRNT) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Kornit Digital (NASDAQ:KRNT) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

Several other brokerages have also issued reports on KRNT. Zacks Investment Research raised Kornit Digital from a strong sell rating to a hold rating in a research report on Saturday, August 24th. TheStreet raised Kornit Digital from a c+ rating to a b rating in a report on Wednesday, August 7th. BidaskClub lowered Kornit Digital from a strong-buy rating to a buy rating in a research note on Wednesday, November 20th. Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the company a buy rating in a report on Wednesday, August 7th. Finally, William Blair reaffirmed an outperform rating on shares of Kornit Digital in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Kornit Digital has a consensus rating of Buy and a consensus price target of $29.25.

NASDAQ KRNT opened at $34.75 on Tuesday. The firm’s fifty day simple moving average is $33.62 and its two-hundred day simple moving average is $30.41. The firm has a market capitalization of $1.38 billion, a P/E ratio of 144.79 and a beta of 1.09. The company has a current ratio of 7.72, a quick ratio of 6.83 and a debt-to-equity ratio of 0.03. Kornit Digital has a 12-month low of $16.10 and a 12-month high of $35.73.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Monday, November 18th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.09). The business had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $48.68 million. Kornit Digital had a net margin of 4.75% and a return on equity of 2.15%. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 EPS. As a group, sell-side analysts predict that Kornit Digital will post 0.23 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Wasatch Advisors Inc. grew its holdings in shares of Kornit Digital by 268.2% during the second quarter. Wasatch Advisors Inc. now owns 2,943,063 shares of the industrial products company’s stock valued at $93,177,000 after buying an additional 2,143,724 shares during the last quarter. Phoenix Holdings Ltd. acquired a new stake in Kornit Digital during the 3rd quarter worth about $25,234,000. BlackRock Inc. lifted its position in Kornit Digital by 108.3% during the 2nd quarter. BlackRock Inc. now owns 1,249,328 shares of the industrial products company’s stock worth $39,555,000 after acquiring an additional 649,662 shares during the period. Invesco Ltd. grew its stake in Kornit Digital by 752.6% during the 2nd quarter. Invesco Ltd. now owns 648,075 shares of the industrial products company’s stock valued at $20,518,000 after purchasing an additional 572,061 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Kornit Digital by 15.2% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,954,254 shares of the industrial products company’s stock valued at $93,532,000 after purchasing an additional 390,395 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

About Kornit Digital

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.

Featured Story: How do analysts define an oversold condition?

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.