Jefferies Group Reaffirms “Buy” Rating for Kennametal (KMT)

Kennametal (NYSE:KMT)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $60.00 price objective on the industrial products company’s stock. Jefferies Group’s price objective would indicate a potential upside of 20.05% from the stock’s previous close.

Several other equities research analysts have also recently commented on KMT. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, October 4th. BMO Capital Markets reissued a “hold” rating and set a $45.00 price target on shares of Kennametal in a research report on Friday, October 20th. Credit Suisse Group boosted their price target 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. TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Finally, ValuEngine cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $48.95.

Shares of Kennametal (NYSE:KMT) traded down $0.28 during midday trading on Thursday, reaching $49.98. 1,021,464 shares of the company were exchanged, compared to its average volume of 764,533. The firm has a market cap of $4,070.00, a price-to-earnings ratio of 37.02, a PEG ratio of 2.40 and a beta of 1.98. 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 12-month low of $32.23 and a 12-month high of $52.52.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The firm had revenue of $542.45 million during the quarter, compared to analyst estimates of $516.80 million. During the same period in the prior year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts expect that Kennametal will post 2.54 earnings per share for the current fiscal year.

In other news, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the sale, the director now directly owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of the company’s stock in a transaction dated 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 ninety days, insiders sold 59,570 shares of company stock worth $2,816,345. 2.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of KMT. BlackRock Inc. raised its holdings in Kennametal by 16,832.4% in the 1st quarter. BlackRock Inc. now owns 8,453,008 shares of the industrial products company’s stock valued at $331,612,000 after acquiring an additional 8,403,086 shares during the period. Janus Henderson Group PLC bought a new position in Kennametal in the 2nd quarter valued at about $76,161,000. FMR LLC bought a new position in Kennametal in the 1st quarter valued at about $57,492,000. Vanguard Group Inc. raised its holdings in Kennametal by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after acquiring an additional 1,263,163 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Kennametal by 139.9% in the 4th quarter. Franklin Resources Inc. now owns 2,140,367 shares of the industrial products company’s stock valued at $66,909,000 after acquiring an additional 1,248,291 shares during the period. 98.59% of the stock is currently owned by institutional investors.

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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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