Kennametal (NYSE:KMT) had its price objective lifted by stock analysts at BMO Capital Markets to $52.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 10.01% from the company’s current price.
A number of other research analysts have also recently commented on KMT. Jefferies Group reissued a “buy” rating and set a $50.00 target price on shares of Kennametal in a research report on Thursday, September 21st. J P Morgan Chase & Co raised shares of Kennametal from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. Credit Suisse Group boosted their target price on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. ValuEngine cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.86.
Shares of Kennametal (NYSE KMT) opened at $47.27 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. Kennametal has a 52 week low of $31.12 and a 52 week high of $48.89. The stock has a market cap of $3,724.97, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.18 and a beta of 1.98.
In related news, VP Judith L. Bacchus sold 18,125 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the sale, the vice president now directly owns 38,528 shares of the company’s stock, valued at $1,810,816. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy R. Mclevish sold 7,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the completion of the sale, the director now directly owns 78,904 shares in the company, valued at $3,708,488. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,570 shares of company stock worth $1,856,345. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of KMT. Alpha Windward raised its holdings in Kennametal by 7,689.3% in the fourth quarter. Alpha Windward now owns 15,968 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 15,763 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Kennametal by 0.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 92,586 shares of the industrial products company’s stock valued at $1,778,000 after purchasing an additional 270 shares during the last quarter. Retirement Systems of Alabama increased its stake in Kennametal by 1.6% during the fourth quarter. Retirement Systems of Alabama now owns 102,292 shares of the industrial products company’s stock valued at $1,964,000 after purchasing an additional 1,571 shares during the last quarter. Nationwide Fund Advisors increased its stake in Kennametal by 0.4% during the fourth quarter. Nationwide Fund Advisors now owns 127,139 shares of the industrial products company’s stock valued at $2,441,000 after purchasing an additional 491 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Kennametal by 1.6% during the fourth quarter. California State Teachers Retirement System now owns 151,582 shares of the industrial products company’s stock valued at $2,910,000 after purchasing an additional 2,375 shares during the last quarter. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: “Kennametal (KMT) Given New $52.00 Price Target at BMO Capital Markets” was reported by American Market News and is the property of of American Market News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/13/kennametal-kmt-given-new-52-00-price-target-at-bmo-capital-markets.html.
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.
