Kennametal Inc. (KMT) Price Target Raised to $35.00 at Jefferies Group
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Kennametal from a hold rating to a sell rating in a research note on Tuesday, October 4th. Seaport Global Securities lowered shares of Kennametal from an accumulate rating to a neutral rating and set a $28.00 price objective on the stock. in a research note on Thursday, August 18th. Barrington Research boosted their price objective on shares of Kennametal from $28.00 to $31.00 and gave the stock an outperform rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG reissued a hold rating and set a $23.00 price objective on shares of Kennametal in a research note on Tuesday, August 2nd. Finally, Bank of America Corp. lowered shares of Kennametal from a neutral rating to an underperform rating in a research note on Thursday, July 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of C$25.00.
Shares of Kennametal (NYSE:KMT) traded up 0.60% during midday trading on Tuesday, hitting $28.67. 612,592 shares of the stock traded hands. The company’s 50-day moving average is $28.20 and its 200 day moving average is $25.14. The firm’s market capitalization is $2.28 billion. Kennametal has a 52 week low of $15.11 and a 52 week high of $29.87.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The company had revenue of $521.20 million for the quarter, compared to analysts’ expectations of $519.51 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Kennametal’s quarterly revenue was down 18.3% on a year-over-year basis. Analysts anticipate that Kennametal will post $1.26 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in KMT. LS Investment Advisors LLC boosted its stake in shares of Kennametal by 77.3% in the second quarter. LS Investment Advisors LLC now owns 4,878 shares of the company’s stock worth $108,000 after buying an additional 2,126 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Kennametal by 305.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,136 shares of the company’s stock worth $136,000 after buying an additional 4,624 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Kennametal during the second quarter worth approximately $150,000. Amalgamated Bank boosted its stake in shares of Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock worth $283,000 after buying an additional 228 shares in the last quarter. Finally, Cantab Capital Partners LLP acquired a new stake in shares of Kennametal during the second quarter worth approximately $223,000. 97.66% of the stock is owned by institutional investors and hedge funds.
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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