Kornit Digital (KRNT) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research note published on Thursday morning.
According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “
Several other research firms have also recently issued reports on KRNT. Citigroup raised Kornit Digital from a neutral rating to a buy rating and set a $19.00 price objective for the company in a research report on Tuesday, January 23rd. TheStreet raised Kornit Digital from a c rating to a b- rating in a research note on Thursday, January 11th. BidaskClub downgraded Kornit Digital from a hold rating to a sell rating in a research note on Thursday, December 7th. Finally, Barclays cut their target price on Kornit Digital from $18.00 to $17.00 and set an overweight rating for the company in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $19.83.
Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter. Kornit Digital had a positive return on equity of 4.62% and a negative net margin of 0.71%. research analysts expect that Kornit Digital will post 0.09 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of KRNT. Swiss National Bank increased its stake in Kornit Digital by 8.7% in the 2nd quarter. Swiss National Bank now owns 41,300 shares of the industrial products company’s stock valued at $799,000 after purchasing an additional 3,300 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Kornit Digital by 1,540.0% during the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 7,700 shares during the last quarter. Northern Trust Corp increased its position in shares of Kornit Digital by 14.9% during the second quarter. Northern Trust Corp now owns 69,570 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 9,044 shares during the last quarter. FMR LLC purchased a new stake in shares of Kornit Digital during the second quarter worth about $7,757,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Kornit Digital by 97.4% during the second quarter. Parametric Portfolio Associates LLC now owns 78,516 shares of the industrial products company’s stock worth $1,519,000 after acquiring an additional 38,738 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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