Zacks Research Upgrades Qnity Electronics (NYSE:Q) to Strong-Buy

by · The Markets Daily

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

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Qnity Electronics in a report on Wednesday, August 5th. Barclays raised their target price on Qnity Electronics from $211.00 to $216.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings lowered Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Truist Financial assumed coverage on Qnity Electronics in a research note on Wednesday, October 14th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Royal Bank Of Canada reduced their price target on Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $164.78.

Read Our Latest Research Report on Q

Qnity Electronics Trading Up 6.1%

Shares of Q traded up $6.74 during mid-day trading 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. Qnity Electronics has a fifty-two week low of $72.81 and a fifty-two week high of $177.28. The stock has a market cap of $24.43 billion and a price-to-earnings ratio of 43.90. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. The firm 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 issued its quarterly earnings data on Wednesday, November 4th. The premier technology solutions leader reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.28. The company had revenue of $1.56 billion for the quarter. Qnity Electronics had a return on equity of 10.83% and a net margin of 11.25%. On average, sell-side analysts anticipate that Qnity Electronics will post 4.60 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bondt De acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $138.14 per share, with a total value of $138,140.00. Following the acquisition, the director directly owned 6,647 shares in the company, valued at approximately $918,216.58. The trade was a 17.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qnity Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Advisors LLC bought a new position in shares of Qnity Electronics during the third quarter worth about $6,031,000. Aberdeen Group plc increased its holdings in Qnity Electronics by 167.4% in the third quarter. Aberdeen Group plc now owns 652,422 shares of the premier technology solutions leader’s stock valued at $82,036,000 after buying an additional 408,427 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Qnity Electronics by 1.6% in the third quarter. Moors & Cabot Inc. now owns 11,293 shares of the premier technology solutions leader’s stock valued at $1,420,000 after buying an additional 183 shares during the last quarter. Allworth Financial LP increased its holdings in Qnity Electronics by 6.0% in the third quarter. Allworth Financial LP now owns 8,877 shares of the premier technology solutions leader’s stock valued at $1,116,000 after buying an additional 503 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Qnity Electronics by 57.6% during the third quarter. Fisher Asset Management LLC now owns 3,257 shares of the premier technology solutions leader’s stock valued at $410,000 after buying an additional 1,191 shares in the last quarter.

About Qnity Electronics

(Get Free Report)

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.

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