Kennametal (KMT) Downgraded by ValuEngine to “Sell”

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ValuEngine downgraded shares of Kennametal (NYSE:KMT) from a hold rating to a sell rating in a research report released on Friday.

A number of other analysts also recently issued reports on KMT. Zacks Investment Research raised shares of Kennametal from a hold rating to a buy rating and set a $45.00 price target on the stock in a report on Friday. Barclays reaffirmed a hold rating and set a $44.00 price target on shares of Kennametal in a report on Wednesday, August 8th. BMO Capital Markets reaffirmed a hold rating and set a $42.00 price target on shares of Kennametal in a report on Thursday, July 19th. Wells Fargo & Co reaffirmed a market perform rating on shares of Kennametal in a report on Thursday, June 28th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $47.00 price target on shares of Kennametal in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Kennametal currently has an average rating of Hold and a consensus price target of $49.54.

NYSE:KMT traded down $1.14 on Friday, reaching $38.61. 1,161,762 shares of the stock traded hands, compared to its average volume of 956,679. The firm has a market cap of $3.57 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.77 and a beta of 2.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.15 and a current ratio of 1.74. Kennametal has a 12 month low of $34.37 and a 12 month high of $52.52.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $646.11 million during the quarter, compared to analyst estimates of $631.48 million. Kennametal had a net margin of 8.45% and a return on equity of 18.60%. Kennametal’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. On average, equities research analysts predict that Kennametal will post 3.14 EPS for the current year.

In related news, VP Gaalen Jan Kees Van sold 13,606 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total value of $559,070.54. Following the transaction, the vice president now owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michelle R. Keating sold 988 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the transaction, the vice president now directly owns 14,676 shares in the company, valued at approximately $619,327.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aperio Group LLC boosted its holdings in shares of Kennametal by 7.2% in the second quarter. Aperio Group LLC now owns 28,048 shares of the industrial products company’s stock worth $1,007,000 after buying an additional 1,882 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Kennametal in the second quarter worth approximately $15,768,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Kennametal by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 730,469 shares of the industrial products company’s stock worth $26,224,000 after buying an additional 52,774 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Kennametal by 11.6% during the second quarter. Janus Henderson Group PLC now owns 2,971,295 shares of the industrial products company’s stock valued at $106,669,000 after purchasing an additional 308,247 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Kennametal by 105.3% during the second quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 1,800 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

About Kennametal

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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