Kennametal Inc. (KMT) Earns “Buy” Rating from Jefferies Group LLC
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.
TRADEMARK VIOLATION WARNING: “Kennametal Inc. (KMT) Earns “Buy” Rating from Jefferies Group LLC” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/21/kennametal-inc-kmt-earns-buy-rating-from-jefferies-group-llc.html.
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.
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.
Receive News & Ratings for Kennametal Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal Inc. and related companies with MarketBeat.com's FREE daily email newsletter.