Kennametal Price Target Increased to $47.00 by Analysts at BMO Capital Markets (KMT)
Stock analysts at BMO Capital Markets lifted their price objective on shares of Kennametal (NYSE:KMT) from $44.00 to $47.00 in a report issued on Thursday, American Banking and Market News reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 1.67% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at SunTrust initiated coverage on shares of Kennametal (NYSE:KMT) in a research note to investors on Thursday. They set a “neutral” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Kennametal (NYSE:KMT) from $46.00 to $53.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Finally, 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, September 17th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.42.
In other Kennametal news, VP Steven Hanna sold 3,000 shares of Kennametal 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 transaction of $138,000.00. Following the sale, the vice president now directly owns 4,955 shares in the company, valued at approximately $227,930. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Kennametal (NYSE:KMT) traded down 0.34% on Thursday, hitting $46.23. The stock had a trading volume of 622,541 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 $44.75 and its 200-day moving average is $41.48. The company has a market cap of $3.599 billion and a price-to-earnings ratio of 18.41.
Kennametal (NYSE:KMT) last announced its earnings results 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 in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Analysts expect that Kennametal will post $3.00 EPS for the current fiscal year.
Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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