ValuEngine lowered shares of Kennametal (NYSE:KMT) from a hold rating to a sell rating in a research report released on Friday morning.

Several other equities research analysts have also recently issued reports on the stock. Goldman Sachs Group initiated coverage on shares of Kennametal in a research report on Tuesday, October 2nd. They set a buy rating and a $53.00 price objective on the stock. Zacks Investment Research upgraded shares of Kennametal from a sell rating to a hold rating in a research report on Thursday, August 9th. Bank of America cut shares of Kennametal from a neutral rating to an underperform rating and set a $52.00 price target on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Longbow Research upgraded shares of Kennametal from a neutral rating to a buy rating and set a $50.00 price target on the stock in a research report on Monday, September 10th. Finally, BMO Capital Markets boosted their price target on shares of Kennametal from $42.00 to $46.00 and gave the stock a market perform rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $49.54.

Shares of Kennametal stock traded down $1.14 on Friday, hitting $38.61. 1,161,762 shares of the company traded hands, compared to its average volume of 956,679. The stock has a market cap of $3.57 billion, a P/E ratio of 14.57, a PEG ratio of 2.77 and a beta of 2.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.15. Kennametal has a 52 week low of $34.37 and a 52 week high of $52.52.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $646.11 million for the quarter, compared to analysts’ expectations of $631.48 million. Kennametal had a net margin of 8.45% and a return on equity of 18.60%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. As a group, equities analysts expect that Kennametal will post 3.14 EPS for the current year.

In related news, VP Gaalen Jan Kees Van sold 13,606 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total value of $559,070.54. Following the sale, the vice president now owns 68,827 shares in the company, valued at $2,828,101.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michelle R. Keating sold 988 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the sale, the vice president now owns 14,676 shares in the company, valued at approximately $619,327.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KMT. Russell Investments Group Ltd. boosted its stake in Kennametal by 212.8% during the first quarter. Russell Investments Group Ltd. now owns 125,184 shares of the industrial products company’s stock worth $5,027,000 after buying an additional 85,163 shares during the period. Sei Investments Co. boosted its stake in Kennametal by 1,138.7% during the first quarter. Sei Investments Co. now owns 84,055 shares of the industrial products company’s stock worth $3,376,000 after buying an additional 77,269 shares during the period. Koch Industries Inc. purchased a new position in Kennametal during the first quarter worth $220,000. Principal Financial Group Inc. boosted its stake in Kennametal by 4.1% during the first quarter. Principal Financial Group Inc. now owns 364,841 shares of the industrial products company’s stock worth $14,652,000 after buying an additional 14,463 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Kennametal by 19.7% during the first quarter. Nuveen Asset Management LLC now owns 89,615 shares of the industrial products company’s stock worth $3,599,000 after buying an additional 14,743 shares during the period. 99.83% of the stock is owned by institutional investors.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Kennametal (NYSE:KMT)

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