Kadant’s (KAI) Outperform Rating Reiterated at Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a research report issued on Monday, Benzinga reports. They currently have a $360.00 price target on the industrial products company’s stock. Barrington Research’s price objective would suggest a potential upside of 27.12% from the company’s current price.

Separately, StockNews.com downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th.

Kadant Stock Up 0.3 %

Shares of Kadant stock traded up $0.82 during trading hours on Monday, reaching $283.19. 16,113 shares of the company’s stock were exchanged, compared to its average volume of 90,531. The company has a 50 day moving average of $312.84 and a two-hundred day moving average of $281.71. Kadant has a fifty-two week low of $183.67 and a fifty-two week high of $354.02. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.32 billion, a P/E ratio of 28.61 and a beta of 1.28.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The business had revenue of $238.68 million during the quarter, compared to the consensus estimate of $227.54 million. On average, sell-side analysts forecast that Kadant will post 9.96 EPS for the current fiscal year.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the transaction, the director now directly owns 11,080 shares of the company’s stock, valued at $3,587,814.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total transaction of $70,266.77. Following the transaction, the director now owns 11,080 shares in the company, valued at $3,587,814.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares in the company, valued at approximately $2,514,853.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,798 shares of company stock valued at $2,899,004. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kadant

Several hedge funds and other institutional investors have recently made changes to their positions in KAI. Parallel Advisors LLC lifted its stake in shares of Kadant by 58.2% during the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Headinvest LLC purchased a new stake in Kadant during the 3rd quarter valued at $25,000. First Horizon Advisors Inc. boosted its position in Kadant by 37.0% during the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Kadant in the 4th quarter worth about $54,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Kadant in the 4th quarter worth about $94,000. 96.13% of the stock is owned by institutional investors.

About Kadant

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.