Kennametal Inc. (KMT) Given Consensus Recommendation of “Buy” by Brokerages
Kennametal Inc. (NYSE:KMT) has been given a consensus recommendation of “Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.95.
A number of equities research analysts have recently commented on KMT shares. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Kennametal in a report on Thursday, September 21st. 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 lowered Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a research report on Thursday, August 17th.
In other Kennametal news, VP Charles Michael Jr. Byrnes acquired 1,900 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $33.00 per share, with a total value of $62,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Rossi acquired 29,880 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $33.46 per share, for a total transaction 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. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in KMT. Dynamic Technology Lab Private Ltd bought a new position in Kennametal in the second quarter valued at $435,000. Public Employees Retirement System of Ohio increased its stake in Kennametal by 122.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 107,855 shares of the industrial products company’s stock valued at $4,036,000 after buying an additional 59,361 shares during the last quarter. Koch Industries Inc. acquired a new stake in Kennametal in the 2nd quarter valued at $211,000. Ameritas Investment Partners Inc. increased its stake in Kennametal by 2.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,157 shares of the industrial products company’s stock valued at $1,166,000 after buying an additional 693 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Kennametal in the 2nd quarter valued at $538,000. Institutional investors and hedge funds own 96.86% of the company’s stock.
Kennametal (NYSE:KMT) traded down 0.66% during mid-day trading on Wednesday, hitting $40.72. 252,342 shares of the stock were exchanged. The stock has a market capitalization of $3.28 billion, a P/E ratio of 66.75 and a beta of 1.94. The firm has a 50-day moving average price of $36.66 and a 200-day moving average price of $38.08. Kennametal has a 12-month low of $26.79 and a 12-month high of $43.09.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). The business had revenue of $565.03 million for the quarter, compared to analyst estimates of $562.16 million. Kennametal had a return on equity of 12.51% and a net margin of 2.39%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities analysts predict that Kennametal will post $2.20 earnings per share for the current fiscal year.
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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.
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