Kennametal Inc. (NYSE:KMT)‘s stock had its “hold” rating reiterated by equities research analysts at BMO Capital Markets in a report issued on Thursday. They presently have a $40.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price target suggests a potential upside of 7.67% from the company’s current price.

A number of other analysts also recently issued reports on KMT. Jefferies Group LLC raised their price target on shares of Kennametal from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Monday. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday. Bank of America Corp raised shares of Kennametal from an “underperform” rating to a “neutral” rating and set a $36.00 price target on the stock in a report on Friday, January 13th. Longbow Research raised shares of Kennametal from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 1st. Finally, KeyCorp raised shares of Kennametal from a “sector weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Tuesday, January 10th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Kennametal currently has an average rating of “Buy” and an average price target of $36.90.

Analyst Recommendations for Kennametal (NYSE:KMT)

Shares of Kennametal (NYSE:KMT) opened at 37.15 on Thursday. The company’s market capitalization is $2.98 billion. The stock’s 50 day moving average is $38.12 and its 200 day moving average is $34.47. Kennametal has a 52-week low of $20.40 and a 52-week high of $40.21.

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Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, February 1st. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $488 million for the quarter, compared to the consensus estimate of $488.72 million. Kennametal had a negative net margin of 3.27% and a positive return on equity of 9.14%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. Equities analysts expect that Kennametal will post $1.40 EPS for the current year.

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Several institutional investors have recently bought and sold shares of KMT. Los Angeles Capital Management & Equity Research Inc. increased its position in Kennametal by 118.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 98,592 shares of the industrial products company’s stock worth $2,217,000 after buying an additional 53,532 shares during the last quarter. Alpha Windward increased its position in Kennametal by 7,689.3% in the fourth quarter. Alpha Windward now owns 15,968 shares of the industrial products company’s stock worth $307,000 after buying an additional 15,763 shares during the last quarter. Tinicum Inc increased its position in Kennametal by 46.5% in the fourth quarter. Tinicum Inc now owns 471,100 shares of the industrial products company’s stock worth $9,045,000 after buying an additional 149,500 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Kennametal by 4.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,672,595 shares of the industrial products company’s stock worth $32,127,000 after buying an additional 73,335 shares during the last quarter. Finally, Morgan Stanley increased its position in Kennametal by 275.7% in the fourth quarter. Morgan Stanley now owns 296,528 shares of the industrial products company’s stock worth $5,693,000 after buying an additional 217,594 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

About Kennametal

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

5 Day Chart for NYSE:KMT

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