Kadant Inc. (NYSE:KAI) Given Consensus Rating of “Buy” by Analysts
Kadant Inc. (NYSE:KAI) has earned an average broker rating score of 2.00 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company.
Analysts have set a 12 month consensus price objective of $54.00 for the company and are anticipating that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also given Kadant an industry rank of 157 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on KAI shares. Seaport Global Securities downgraded shares of Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Friday, August 5th. William Blair initiated coverage on shares of Kadant in a research report on Friday, September 16th. They issued a “market perform” rating and a $49.00 price objective on the stock. Zacks Investment Research downgraded shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Barrington Research lifted their price objective on shares of Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, August 5th.
In other Kadant news, insider Jonathan W. Painter sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $56.00, for a total transaction of $168,000.00. Following the sale, the insider now directly owns 61,337 shares in the company, valued at approximately $3,434,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas C. Leonard sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $51.80, for a total transaction of $259,000.00. Following the sale, the director now owns 17,500 shares in the company, valued at $906,500. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its stake in Kadant by 7.8% in the second quarter. First Mercantile Trust Co. now owns 3,870 shares of the company’s stock worth $200,000 after buying an additional 280 shares during the period. JPMorgan Chase & Co. increased its stake in Kadant by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 546,542 shares of the company’s stock worth $24,681,000 after buying an additional 6,475 shares during the period. Ngam Advisors L.P. increased its stake in Kadant by 18.8% in the first quarter. Ngam Advisors L.P. now owns 56,787 shares of the company’s stock worth $2,565,000 after buying an additional 8,970 shares during the period. UBS Group AG increased its stake in Kadant by 34.6% in the first quarter. UBS Group AG now owns 33,353 shares of the company’s stock worth $1,506,000 after buying an additional 8,580 shares during the period. Finally, Northpointe Capital LLC increased its stake in Kadant by 18.0% in the second quarter. Northpointe Capital LLC now owns 58,772 shares of the company’s stock worth $3,027,000 after buying an additional 8,961 shares during the period. Institutional investors own 87.85% of the company’s stock.
Shares of Kadant (NYSE:KAI) opened at 50.88 on Monday. Kadant has a 52-week low of $33.38 and a 52-week high of $56.57. The stock has a 50 day moving average of $53.10 and a 200 day moving average of $50.59. The firm has a market capitalization of $554.44 million, a price-to-earnings ratio of 16.46 and a beta of 1.38.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.23. Kadant had a net margin of 8.39% and a return on equity of 13.55%. The company had revenue of $111.83 million for the quarter, compared to the consensus estimate of $104.44 million. During the same period last year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that Kadant will post $3.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be given a $0.19 dividend. The ex-dividend date is Tuesday, October 11th. This represents a $0.76 annualized dividend and a yield of 1.49%. Kadant’s dividend payout ratio is presently 24.60%.
Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.
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