Kennametal Inc. (NYSE:KMT) had its target price raised by equities researchers at Jefferies Group from $30.00 to $35.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock.
A number of other research firms have also recently commented on KMT. Seaport Global Securities cut shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Thursday, August 18th. Zacks Investment Research cut shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Bank of America Corp. cut shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 7th. Credit Suisse Group AG restated a “hold” rating and issued a $23.00 price objective on shares of Kennametal in a research report on Tuesday, August 2nd. Finally, Barrington Research increased their target price on Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Kennametal has an average rating of “Hold” and an average price target of C$25.00.
Kennametal (NYSE:KMT) opened at 28.68 on Tuesday. Kennametal has a 52-week low of $15.11 and a 52-week high of $29.87. The company’s 50 day moving average price is $28.20 and its 200 day moving average price is $25.17. The firm’s market cap is $2.29 billion.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The business earned $521.20 million during the quarter, compared to analysts’ expectations of $519.51 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. Analysts predict that Kennametal will post $1.26 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in shares of Kennametal by 77.3% in the second quarter. LS Investment Advisors LLC now owns 4,878 shares of the company’s stock valued at $108,000 after buying an additional 2,126 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Kennametal by 305.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,136 shares of the company’s stock valued at $136,000 after buying an additional 4,624 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Kennametal during the second quarter valued at $150,000. Cantab Capital Partners LLP bought a new position in shares of Kennametal during the second quarter valued at $223,000. Finally, Mackenzie Financial Corp boosted its position in shares of Kennametal by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,287 shares of the company’s stock valued at $227,000 after buying an additional 599 shares during the last quarter. Institutional investors own 97.66% of the company’s stock.
Kennametal Company Profile
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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