KONE Oyj (OTCMKTS:KNYJY) Stock Rating Lowered by The Goldman Sachs Group

KONE Oyj (OTCMKTS:KNYJYGet Rating) was downgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their target price on KONE Oyj from €73.00 ($76.84) to €70.00 ($73.68) in a report on Tuesday, March 29th. Danske raised KONE Oyj from a “hold” rating to a “buy” rating in a report on Thursday, June 9th. Morgan Stanley reduced their target price on KONE Oyj from €56.00 ($58.95) to €54.00 ($56.84) and set an “equal weight” rating for the company in a report on Friday, April 29th. Credit Suisse Group reduced their target price on KONE Oyj from €76.00 ($80.00) to €60.00 ($63.16) and set an “outperform” rating for the company in a report on Thursday, June 16th. Finally, Barclays cut their price objective on KONE Oyj from €57.00 ($60.00) to €53.00 ($55.79) in a report on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, KONE Oyj presently has an average rating of “Hold” and a consensus target price of $58.60.

KONE Oyj stock traded up $0.27 during midday trading on Tuesday, reaching $24.86. The stock had a trading volume of 54,303 shares, compared to its average volume of 74,345. KONE Oyj has a 12 month low of $22.01 and a 12 month high of $42.55. The firm’s 50-day moving average price is $24.29 and its 200 day moving average price is $28.68. The company has a current ratio of 1.06, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19.

KONE Oyj (OTCMKTS:KNYJYGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $2.74 billion during the quarter. As a group, research analysts anticipate that KONE Oyj will post 1 EPS for the current year.

About KONE Oyj (Get Rating)

KONE Oyj, together with its subsidiaries, engages in the elevator and escalator business worldwide. It offers elevators, escalators, and automatic building doors. The company also provides maintenance services; modernization solutions; and various residential solutions. In addition, it offers KONE Office Flow, a connected solution that allows for personalized user experiences and touch-free access; health and well-being solutions for elevators, escalators, and doors; KONE Residential Flow, a smarter building solution for the movement of people, goods, and information; KONE Access, an access control system, which is integrated with elevator system and building doors; KONE Destination, a destination control system that reduce waiting and travel times; KONE infotainment, a communication channel for building tenants and visitors; and monitoring solutions that enable real-time inspection of elevators and escalators.

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