Kennametal PT Raised to $54.00 at Barrington Research (KMT)
Equities researchers at Barrington Research lifted their price objective on shares of Kennametal (NYSE:KMT) from $45.00 to $54.00 in a research report issued on Monday, Stock Ratings Network reports. Barrington Research’s price objective would suggest a potential upside of 16.40% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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.
Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.00.
Kennametal (NYSE:KMT) traded up 0.85% on Monday, hitting $46.39. The stock had a trading volume of 753,590 shares. Kennametal has a 1-year low of $33.95 and a 1-year high of $46.43. The stock has a 50-day moving average of $44.14 and a 200-day moving average of $41.12. The company has a market cap of $3.611 billion and a price-to-earnings ratio of 18.25.
Kennametal (NYSE:KMT) last released its 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 in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, analysts predict that Kennametal will post $3.01 earnings per share for the current fiscal year.
In other Kennametal news, VP Steven Hanna unloaded 3,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.00, for a total value of $138,000.00. Following the completion of the sale, the vice president now directly owns 4,955 shares of the company’s stock. The transaction was disclosed in a document filed 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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