Brokerages Set Kennametal Inc. (NYSE:KMT) PT at $26.00
Shares of Kennametal Inc. (NYSE:KMT) have earned an average rating of “Hold” from the eleven brokerages that are presently covering the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$26.00.
KMT has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Seaport Global Securities lowered shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Thursday, August 18th. Barrington Research upped their target price on shares of Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Bank of America Corp. lowered shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 7th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $23.00 target price on shares of Kennametal in a research report on Tuesday, August 2nd.
Kennametal (NYSE:KMT) opened at 29.02 on Thursday. The stock’s market cap is $2.31 billion. Kennametal has a 12 month low of $15.11 and a 12 month high of $29.45. The company has a 50-day moving average of $28.13 and a 200-day moving average of $24.79.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm earned $521.20 million during the quarter, compared to analysts’ expectations of $519.51 million. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Kennametal will post $1.26 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in KMT. LS Investment Advisors LLC raised its stake in 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 period. Tower Research Capital LLC TRC raised its stake in 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 period. Bank of Montreal Can purchased a new stake in Kennametal during the second quarter valued at about $150,000. Cantab Capital Partners LLP purchased a new stake in Kennametal during the second quarter valued at about $223,000. Finally, Mackenzie Financial Corp raised its stake in 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 period. Institutional investors and hedge funds own 97.66% of the company’s stock.
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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