Kennametal Given “Buy” Rating at Credit Suisse (KMT)
Kennametal (NYSE:KMT)‘s stock had its “buy” rating reiterated by equities researchers at Credit Suisse in a research report issued on Monday, Analyst Ratings Network reports. They currently have a $50.00 price objective on the stock, up from their previous price objective of $45.00. Credit Suisse’s price objective suggests a potential upside of 8.37% from the stock’s previous close.
Kennametal (NYSE:KMT) traded down 0.54% on Monday, hitting $46.14. The stock had a trading volume of 750,518 shares. Kennametal has a 52 week low of $33.95 and a 52 week high of $47.95. The stock’s 50-day moving average is $44.24 and its 200-day moving average is $41.18. The company has a market cap of $3.592 billion and a price-to-earnings ratio of 18.41.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.74 by $0.02. The company had revenue of $671.41 million for the quarter, compared to the consensus estimate of $678.92 million. During the same quarter last year, the company posted $1.08 earnings per share. Kennametal’s revenue was down 9.2% compared to the same quarter last year. On average, analysts predict that Kennametal will post $3.00 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barrington Research raised their price target on shares of Kennametal (NYSE:KMT) from $45.00 to $54.00 in a research note to investors on Monday. Separately, analysts at Global Hunter Securities upgraded shares of Kennametal (NYSE:KMT) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. They now have a $55.00 price target on the stock, up previously from $37.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Kennametal (NYSE:KMT) in a research note to investors on Tuesday, August 6th. They now have a $47.00 price target on the stock.
Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Kennametal presently has an average rating of “Buy” and a consensus target price of $48.58.
In other Kennametal news, VP Steven Hanna unloaded 3,000 shares of the stock on the open market in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. Following the completion of the transaction, the vice president now directly owns 4,955 shares in the company. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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