Kennametal Price Target Increased to $53.00 by Analysts at Stifel Nicolaus (KMT)
Equities research analysts at Stifel Nicolaus increased their target price on shares of Kennametal (NYSE:KMT) from $46.00 to $53.00 in a research note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.07% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Merrill Lynch downgraded shares of Kennametal (NYSE:KMT) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Jefferies Group raised their price target on shares of Kennametal (NYSE:KMT) from $38.00 to $45.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Kennametal (NYSE:KMT) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, up previously from $46.00.
Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.17.
Shares of Kennametal (NYSE:KMT) traded up 2.49% on Wednesday, hitting $47.29. The stock had a trading volume of 529,825 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 $44.35 and its 200-day moving average is $41.23. The company has a market cap of $3.681 billion and a price-to-earnings ratio of 18.31.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Kennametal will post $3.00 EPS for the current fiscal year.
In other Kennametal news, VP Steven Hanna sold 3,000 shares of Kennametal stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. Following the transaction, the vice president now directly owns 4,955 shares of the company’s stock. The sale was disclosed in a legal 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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