Wells Fargo reiterated their outperform rating on shares of Kennametal (NYSE:KMT) in a report issued on Thursday morning, The Fly reports. The brokerage currently has a $48.00 price target on the industrial products company’s stock, down from their previous price target of $53.00. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on KMT. Stifel Nicolaus increased their price target on Kennametal from $50.00 to $52.00 and gave the company a hold rating in a research note on Sunday, February 4th. KeyCorp reissued a buy rating and issued a $56.00 price target on shares of Kennametal in a research note on Wednesday, January 10th. JPMorgan Chase decreased their target price on Kennametal from $48.00 to $45.00 and set a hold rating for the company in a research note on Tuesday, April 10th. Zacks Investment Research raised Kennametal from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Wednesday, April 11th. Finally, Jefferies Group reaffirmed a buy rating and set a $60.00 target price on shares of Kennametal in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $49.82.
Shares of KMT stock opened at $40.05 on Thursday. The stock has a market capitalization of $3,267.02, a PE ratio of 17.96, a P/E/G ratio of 3.12 and a beta of 2.03. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60. Kennametal has a 1-year low of $32.23 and a 1-year high of $52.52.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. research analysts predict that Kennametal will post 2.57 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. grew its stake in Kennametal by 6.4% in the fourth quarter. Eagle Asset Management Inc. now owns 331,220 shares of the industrial products company’s stock valued at $16,034,000 after acquiring an additional 19,831 shares during the period. American International Group Inc. grew its stake in Kennametal by 0.6% in the fourth quarter. American International Group Inc. now owns 220,109 shares of the industrial products company’s stock valued at $10,655,000 after acquiring an additional 1,216 shares during the period. WINTON GROUP Ltd acquired a new stake in Kennametal in the fourth quarter valued at approximately $6,074,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kennametal by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 1,463 shares during the period. Finally, MANA Advisors LLC acquired a new stake in Kennametal in the fourth quarter valued at approximately $395,000. 99.04% of the stock is owned by institutional investors and hedge funds.
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Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.
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