Kennametal Inc. (NYSE:KMT) was upgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a $36.00 target price on the industrial products company’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 7.75% from the stock’s previous close.

Several other research firms have also weighed in on KMT. Wells Fargo & Company upgraded shares of Kennametal from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $26.10 to $43.50 in a research report on Friday, August 4th. Stifel Nicolaus raised their price objective on shares of Kennametal from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Barrington Research raised their price objective on shares of Kennametal from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $42.77.

Shares of Kennametal (NYSE:KMT) traded down 0.98% during mid-day trading on Thursday, hitting $33.41. 1,597,508 shares of the company’s stock traded hands. The stock has a market cap of $2.70 billion, a P/E ratio of 54.77 and a beta of 1.89. Kennametal has a 1-year low of $26.10 and a 1-year high of $43.09. The stock has a 50 day moving average price of $37.24 and a 200-day moving average price of $38.29.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Kennametal had a net margin of 4.53% and a return on equity of 10.07%. The business had revenue of $565.03 million for the quarter, compared to the consensus estimate of $562.16 million. During the same quarter last year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Kennametal will post $2.20 EPS for the current fiscal year.

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In other Kennametal news, Director Philip A. Dur sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $40.01, for a total value of $280,070.00. Following the completion of the transaction, the director now directly owns 22,024 shares in the company, valued at $881,180.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Kennametal by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,756 shares of the industrial products company’s stock worth $440,000 after buying an additional 42 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Kennametal by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,820 shares of the industrial products company’s stock worth $542,000 after buying an additional 44 shares during the period. Alpha Windward LLC raised its stake in Kennametal by 0.7% in the second quarter. Alpha Windward LLC now owns 12,745 shares of the industrial products company’s stock worth $477,000 after buying an additional 92 shares during the period. Affinity Wealth Management raised its stake in Kennametal by 1.5% in the second quarter. Affinity Wealth Management now owns 8,780 shares of the industrial products company’s stock worth $328,000 after buying an additional 130 shares during the period. Finally, Credit Agricole S A raised its stake in Kennametal by 1.1% in the first quarter. Credit Agricole S A now owns 12,000 shares of the industrial products company’s stock worth $471,000 after buying an additional 131 shares during the period. Institutional investors own 96.76% of the company’s stock.

Kennametal Company Profile

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.

Analyst Recommendations for Kennametal (NYSE:KMT)

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