JPMorgan Chase & Co. Has Lowered Expectations for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $34.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 5.57% from the stock’s previous close.

A number of other equities research analysts have also recently commented on KMT. Zacks Research raised Kennametal from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. DA Davidson dropped their price target on Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. UBS Group dropped their price target on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Morgan Stanley downgraded Kennametal from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kennametal in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kennametal currently has a consensus rating of “Reduce” and a consensus target price of $33.50.

Kennametal Stock Down 1.5%

Shares of NYSE KMT traded down $0.50 during trading on Thursday, reaching $31.77. The company had a trading volume of 1,542,070 shares, compared to its average volume of 1,410,652. The stock has a market cap of $2.43 billion, a PE ratio of 7.22, a P/E/G ratio of 0.32 and a beta of 1.33. 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 12-month low of $20.38 and a 12-month high of $43.81. The business’s 50-day moving average is $30.95 and its 200 day moving average is $34.09.

Kennametal (NYSE:KMT) last released its quarterly earnings data 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. The company had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. Kennametal had a return on equity of 24.83% and a net margin of 14.53%.Kennametal’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. As a group, equities analysts forecast that Kennametal will post 4.92 earnings per share for the current fiscal year.

Insider Transactions at Kennametal

In related news, VP Judith L. Bacchus sold 9,676 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total value of $293,086.04. Following the completion of the transaction, the vice president directly owned 15,721 shares of the company’s stock, valued at approximately $476,189.09. This represents a 38.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Chowbey bought 7,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were bought at an average price of $29.10 per share, for a total transaction of $203,700.00. Following the completion of the acquisition, the chief executive officer owned 246,839 shares in the company, valued at approximately $7,183,014.90. The trade was a 2.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.65% of the stock is owned by company insiders.

Institutional Trading of Kennametal

Several institutional investors and hedge funds have recently bought and sold shares of KMT. WINTON GROUP Ltd grew its stake in shares of Kennametal by 170.1% in the second quarter. WINTON GROUP Ltd now owns 58,366 shares of the industrial products company’s stock worth $2,046,000 after acquiring an additional 36,757 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Kennametal by 166.2% in the second quarter. Engineers Gate Manager LP now owns 121,709 shares of the industrial products company’s stock valued at $4,266,000 after purchasing an additional 75,990 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Kennametal in the 2nd quarter valued at $44,000. Squarepoint Ops LLC acquired a new stake in shares of Kennametal during the second quarter worth about $589,000. Finally, Nykredit A S acquired a new position in Kennametal during the second quarter worth approximately $37,000.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components, and wear-resistant solutions. Its products are designed to help customers machine, shape, and protect materials used in demanding industrial applications.

The company’s offerings include cutting tools and tooling systems for metalworking, as well as engineered components, advanced materials, and surface technologies intended to improve durability and performance.