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3 Stocks Pushing The Computer Hardware Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Computer Hardware industry as a whole closed the day down 1.0% versus the S&P 500, which was down 0.1%. Laggards within the Computer Hardware industry included Lantronix ( LTRX), down 2.1%, Transact Technologies ( TACT), down 1.7%, Astro-Med ( ALOT), down 1.5%, Key Tronic ( KTCC), down 4.7% and Xplore Technologies ( XPLR), down 1.7%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Key Tronic ( KTCC) is one of the companies that pushed the Computer Hardware industry lower today. Key Tronic was down $0.50 (4.7%) to $10.08 on heavy volume. Throughout the day, 43,448 shares of Key Tronic exchanged hands as compared to its average daily volume of 11,000 shares. The stock ranged in price between $10.03-$10.63 after having opened the day at $10.58 as compared to the previous trading day's close of $10.58.

Key Tronic Corporation, doing business as KeyTronicEMS Co., provides electronic manufacturing services (EMS) and solutions to original equipment manufacturers in the United States, Mexico, and China. Key Tronic has a market cap of $111.4 million and is part of the technology sector. Shares are down 4.0% year-to-date as of the close of trading on Thursday.

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TheStreet Ratings rates Key Tronic as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from TheStreet Ratings analysis on KTCC go as follows:

  • KTCC has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.38, which illustrates the ability to avoid short-term cash problems.
  • KEY TRONIC CORP's earnings per share declined by 50.0% in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, KEY TRONIC CORP increased its bottom line by earning $1.16 versus $1.09 in the prior year.
  • KTCC, with its decline in revenue, underperformed when compared the industry average of 8.6%. Since the same quarter one year prior, revenues slightly dropped by 8.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • In its most recent trading session, KTCC has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, although the push and pull of the overall market trend could certainly make a critical difference, we do not see any strong reason stemming from the company's fundamentals that would cause a continuation of last year's decline. In fact, the stock is now selling for less than others in its industry in relation to its current earnings.

You can view the full analysis from the report here: Key Tronic Ratings Report

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