Price Action Don’t Lie: Could KMG Chemicals, Inc. See a Reversal After Breaking All Highs?

Price Action Don't Lie: Could KMG Chemicals, Inc. See a Reversal After Breaking All Highs?

The stock of KMG Chemicals, Inc. (NYSE:KMG) reached all time high today, Nov, 24 and still has $35.46 target or 9.00% above today’s $32.53 share price. This indicates more upside for the $388.21 million company. This technical setup was reported by Barchart.com. If the $35.46 PT is reached, the company will be worth $34.94 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock decreased 0.61% or $0.2 on November 23, hitting $32.53. About 26,095 shares traded hands. KMG Chemicals, Inc. (NYSE:KMG) has risen 37.32% since April 22, 2016 and is uptrending. It has outperformed by 31.91% the S&P500.

Analysts await KMG Chemicals, Inc. (NYSE:KMG) to report earnings on December, 12 after the close. They expect $0.45 EPS, up 7.14% or $0.03 from last year’s $0.42 per share. KMG’s profit will be $5.37M for 18.07 P/E if the $0.45 EPS becomes a reality. After $0.38 actual EPS reported by KMG Chemicals, Inc. for the previous quarter, Wall Street now forecasts 18.42% EPS growth.

KMG Chemicals, Inc. (NYSE:KMG) Ratings Coverage

Out of 2 analysts covering KMG Chemicals (NYSE:KMG), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. KMG Chemicals has been the topic of 4 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Strong-Buy” rating given on Wednesday, August 12 by Zacks. The firm has “Hold” rating by Zacks given on Monday, August 31. Seaport Global Securities upgraded KMG Chemicals, Inc. (NYSE:KMG) on Friday, December 11 to “Buy” rating. The firm has “Neutral” rating given on Wednesday, August 26 by Global Hunter Securities.

According to Zacks Investment Research, “KMG Chemicals manufactures, markets and distributes specialty, niche chemicals. The company manufactures, markets and distributes three wood preserving chemicals, pentachlorophenol, creosote and sodium pentachlorophenate, to industrial customers engaged in the wood preserving business. The company’s customers use these preservatives to treat wood and supply the treated wood products to end-users in a variety of industries, principally the railroad, utility and construction industries.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.25, from 1.25 in 2016Q1. The ratio turned negative, as 5 funds sold all KMG Chemicals, Inc. shares owned while 27 reduced positions. 17 funds bought stakes while 23 increased positions. They now own 7.99 million shares or 11.62% less from 9.04 million shares in 2016Q1.
State Street Corporation reported 137,366 shares or 0% of all its holdings. Globeflex Cap L P has invested 0.37% of its portfolio in KMG Chemicals, Inc. (NYSE:KMG). Aqr Cap Mgmt Ltd Liability Corp accumulated 0% or 23,412 shares. Bnp Paribas Arbitrage Sa, a New York-based fund reported 349 shares. Renaissance Technologies Ltd Company holds 0.01% or 251,400 shares in its portfolio. Amer Century has 0% invested in the company for 20,580 shares. Menta Capital Lc, a California-based fund reported 30,273 shares. Ghp Invest Advsrs Inc accumulated 26,158 shares or 0.15% of the stock. Fuller Thaler Asset Incorporated last reported 0% of its portfolio in the stock. Ironwood Investment Mngmt Ltd holds 27,350 shares or 0.53% of its portfolio. Springbok Mngmt Lc accumulated 8,400 shares or 0.03% of the stock. Blackrock Institutional Tru Na has 213,239 shares for 0% of their US portfolio. Tfs Capital Limited holds 0.27% or 57,522 shares in its portfolio. Susquehanna Gp Llp owns 17,200 shares or 0% of their US portfolio. Pnc Fincl Ser Group Inc has invested 0% of its portfolio in KMG Chemicals, Inc. (NYSE:KMG).

Another recent and important KMG Chemicals, Inc. (NYSE:KMG) news was published by Marketwatch.com which published an article titled: “KMG Chemicals rockets 12%, paces NYSE gainers after Q1 results late Thursday” on September 24, 2011.

KMG Company Profile

KMG Chemicals, Inc., incorporated on July 30, 1992, makes, formulates and globally distributes specialty chemicals. The Firm operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Firm operates through two divisions: Electronic chemicals and Other chemicals. The Firm operates through its subsidiaries, KMG Electronic Chemicals, Inc. (KMG EC), KMG-Bernuth, Inc. (KMG Bernuth) and KMG Val-Tex, LLC (Val-Tex).

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