Kennametal Inc. (NYSE:KMT)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $50.00 price objective on the industrial products company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 26.74% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective on shares of Kennametal in a research report on Wednesday, August 23rd. BidaskClub downgraded Kennametal from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $26.10 to $43.50 in a research report on Friday, August 4th. J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. Finally, Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.41.

Kennametal (KMT) traded down 1.12% on Thursday, hitting $39.01. The stock had a trading volume of 832,111 shares. The firm’s 50-day moving average price is $35.51 and its 200-day moving average price is $37.94. The firm has a market cap of $3.15 billion, a P/E ratio of 63.95 and a beta of 1.90. Kennametal has a 1-year low of $26.79 and a 1-year high of $43.09.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The business had revenue of $565.03 million during the quarter, compared to the consensus estimate of $562.16 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Kennametal will post $2.20 earnings per share for the current year.

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In other news, VP Charles Michael Jr. Byrnes bought 1,900 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $33.00 per share, for a total transaction of $62,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Rossi bought 29,880 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $33.46 per share, with a total value of $999,784.80. Following the transaction, the insider now owns 29,850 shares of the company’s stock, valued at $998,781. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 272 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Kennametal during the first quarter worth $218,000. Capstone Asset Management Co. acquired a new stake in shares of Kennametal during the first quarter worth $230,000. Oakbrook Investments LLC grew its stake in shares of Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 150 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of Kennametal during the second quarter worth $229,000. 97.19% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Kennametal (NYSE:KMT)

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