Kennametal (NYSE:KMT) Raised to “Strong-Buy” at Zacks Research

Kennametal (NYSE:KMT) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

Several other research firms have also recently commented on KMT. Barclays cut Kennametal from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $40.00 to $33.00 in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kennametal in a research report on Monday, August 17th. Morgan Stanley cut Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a research note on Monday, August 10th. DA Davidson lowered their price objective on Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Finally, UBS Group cut their target price on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $34.07.

Kennametal Price Performance

Kennametal stock opened at $29.69 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.42. Kennametal has a 52-week low of $20.35 and a 52-week high of $43.81. The firm has a market cap of $2.27 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 0.29 and a beta of 1.34. The company’s 50 day moving average is $31.94 and its two-hundred day moving average is $34.90.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.31 by $0.65. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The business had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 42.6% compared to the same quarter last year. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. On average, research analysts expect that Kennametal will post 4.82 EPS for the current fiscal year.

Insider Buying and Selling at Kennametal

In other Kennametal news, VP Judith L. Bacchus sold 9,676 shares of Kennametal stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $293,086.04. Following the completion of the sale, the vice president directly owned 15,721 shares of the company’s stock, valued at $476,189.09. The trade was a 38.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Chowbey acquired 7,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $29.10 per share, with a total value of $203,700.00. Following the completion of the transaction, the chief executive officer owned 246,839 shares in the company, valued at approximately $7,183,014.90. This represents a 2.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Kennametal

Several institutional investors have recently added to or reduced their stakes in KMT. Baron Wealth Management LLC boosted its position in Kennametal by 3.8% during the first quarter. Baron Wealth Management LLC now owns 11,972 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 439 shares during the last quarter. ProShare Advisors LLC raised its holdings in Kennametal by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 14,799 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 450 shares during the last quarter. New Age Alpha Advisors LLC lifted its stake in shares of Kennametal by 5.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 10,977 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 567 shares during the period. Allworth Financial LP purchased a new position in shares of Kennametal during the 2nd quarter worth $25,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Kennametal by 9.4% during the first quarter. Cetera Investment Advisers now owns 8,376 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 723 shares during the last quarter.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions for demanding applications. Its products are designed to help customers cut, shape, drill and protect materials used in manufacturing, transportation, energy, infrastructure and other industrial markets.

The company’s offerings include carbide and ceramic cutting tools, indexable inserts, solid carbide tooling, toolholding systems and related metal-cutting products.