Kennametal (NYSE:KMT) Stock Price Target Cut by DA Davidson

Kennametal (NYSE:KMT) had its target price decreased by equities researchers at DA Davidson from $30.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson‘s price objective would indicate a potential upside of 4.24% from the company’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Kennametal from $30.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, November 5th. Morgan Stanley cut Kennametal from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $31.00 to $27.00 in a research note on Monday, August 10th. Wall Street Zen downgraded Kennametal from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. UBS Group decreased their price objective on Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, Weiss Ratings lowered Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $32.36.

Kennametal Stock Down 1.1%

Shares of NYSE:KMT opened at $23.98 on Thursday. The stock’s 50-day moving average price is $29.59 and its 200-day moving average price is $34.16. Kennametal has a 12-month low of $22.65 and a 12-month high of $43.81. The stock has a market capitalization of $1.85 billion, a P/E ratio of 3.16, a price-to-earnings-growth ratio of 0.22 and a beta of 1.30. The company has a current ratio of 3.45, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $3.48 EPS for the quarter, beating the consensus estimate of $2.65 by $0.83. The firm had revenue of $768.19 million during the quarter, compared to the consensus estimate of $770.36 million. Kennametal had a net margin of 22.49% and a return on equity of 38.40%. The company’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that Kennametal will post 5.29 earnings per share for the current year.

Insider Transactions at Kennametal

In related news, CFO Patrick S. Watson purchased 2,000 shares of Kennametal stock in a transaction on Friday, November 6th. The stock was acquired at an average price of $23.50 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the chief financial officer directly owned 98,523 shares in the company, valued at $2,315,290.50. This represents a 2.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Judith Bacchus sold 9,676 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $293,086.04. Following the sale, the vice president owned 15,721 shares in the company, valued at approximately $476,189.09. The trade was a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired 16,000 shares of company stock worth $416,040 in the last 90 days. 1.65% of the stock is currently owned by insiders.

Institutional Trading of Kennametal

Institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP bought a new stake in Kennametal during the 2nd quarter valued at approximately $25,000. Nykredit A S bought a new position in shares of Kennametal during the second quarter worth $37,000. Integrated Wealth Concepts LLC purchased a new position in Kennametal during the second quarter valued at $44,000. Signaturefd LLC grew its stake in Kennametal by 377.7% during the third quarter. Signaturefd LLC now owns 1,696 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 1,341 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in Kennametal during the second quarter valued at $70,000.

Kennametal Company Profile

Kennametal Inc. is an industrial technology company that develops and manufactures metal-cutting tools, tooling systems, and wear-resistant products. Its products use materials such as tungsten carbide and advanced ceramics to help customers machine components and protect equipment used in demanding operating conditions. The company serves industries including aerospace, transportation, energy, general engineering, and earthworks. Its products and services include cutting tools and related tooling, engineered components, and wear solutions for industrial applications.