Kennametal (NYSE:KMT) had its target price raised by stock analysts at Stifel Nicolaus from $50.00 to $52.00 in a research report issued on Sunday, February 4th. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 22.09% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on KMT. ValuEngine upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Bank of America increased their target price on shares of Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. KeyCorp reiterated a “buy” rating and issued a $56.00 target price on shares of Kennametal in a research report on Wednesday, January 10th. Finally, Jefferies Group increased their target price on shares of Kennametal from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.25.
Kennametal (NYSE:KMT) opened at $42.59 on Friday. Kennametal has a 52 week low of $32.23 and a 52 week high of $52.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 1.52. The company has a market cap of $3,474.21, a P/E ratio of 24.20, a P/E/G ratio of 1.99 and a beta of 1.95.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same period in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. analysts forecast that Kennametal will post 2.57 earnings per share for the current fiscal year.
In related news, VP Judith L. Bacchus sold 18,125 shares of Kennametal stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the transaction, the vice president now owns 38,528 shares in the company, valued at approximately $1,810,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the completion of the transaction, the director now owns 66,904 shares in the company, valued at approximately $3,211,392. The disclosure for this sale can be found here. Insiders have sold a total of 45,125 shares of company stock worth $2,140,875 in the last 90 days. 2.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. bought a new position in Kennametal in the 3rd quarter worth $115,000. Hartford Investment Management Co. bought a new position in Kennametal in the 3rd quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kennametal by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 1,463 shares during the period. Trexquant Investment LP bought a new position in Kennametal in the 3rd quarter worth $207,000. Finally, World Asset Management Inc bought a new position in Kennametal in the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
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Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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