Kennametal Inc. (KMT) PT Raised to $35.00 at Jefferies Group
Kennametal Inc. (NYSE:KMT) had its price objective lifted by Jefferies Group from $30.00 to $35.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the stock.
Other equities analysts have also recently issued research reports about the company. Credit Suisse Group AG reiterated a “hold” rating on shares of Kennametal in a report on Saturday, July 9th. Zacks Investment Research upgraded Kennametal from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Bank of America Corp. cut Kennametal from a “neutral” rating to an “underperform” rating in a report on Thursday, July 7th. Barrington Research lifted their target price on Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Finally, Seaport Global Securities cut Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Thursday, August 18th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of C$25.00.
Shares of Kennametal (NYSE:KMT) traded down 1.72% during trading on Tuesday, hitting $28.56. The company had a trading volume of 359,488 shares. The company’s market capitalization is $2.28 billion. The stock’s 50-day moving average price is $28.21 and its 200 day moving average price is $25.12. Kennametal has a 52 week low of $15.11 and a 52 week high of $29.87.
Kennametal (NYSE:KMT) last released 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. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The business had revenue of $521.20 million for the quarter, compared to the consensus estimate of $519.51 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was down 18.3% compared to the same quarter last year. On average, equities research analysts forecast that Kennametal will post $1.26 earnings per share for the current year.
Large investors have recently modified their holdings of the company. 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 valued at $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 valued at $136,000 after buying an additional 4,624 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Kennametal during the second quarter valued at $150,000. Cantab Capital Partners LLP purchased a new stake in shares of Kennametal during the second quarter valued at $223,000. Finally, Mackenzie Financial Corp boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.
Kennametal Company Profile
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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