Kennametal (NYSE:KMT – Get Free Report)‘s stock had its “hold” rating reaffirmed by equities research analysts at Loop Capital in a research report issued on Wednesday, Marketbeat reports. They presently have a $24.00 price objective on the industrial products company’s stock, up from their previous price objective of $21.00. Loop Capital’s target price suggests a potential upside of 3.08% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on KMT. Barclays upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Morgan Stanley raised their price objective on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.40.
Get Our Latest Stock Analysis on KMT
Kennametal Trading Up 2.4%
Kennametal (NYSE:KMT – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. Kennametal’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. Equities analysts forecast that Kennametal will post 1.17 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Kennametal
Several large investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC bought a new stake in Kennametal during the first quarter valued at $11,801,000. Cooper Haims Advisors LLC acquired a new stake in shares of Kennametal during the 1st quarter worth approximately $7,453,000. Empowered Funds LLC bought a new stake in shares of Kennametal in the 1st quarter worth approximately $7,009,000. American Century Companies Inc. boosted its position in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after purchasing an additional 308,000 shares during the period. Finally, Norges Bank bought a new position in Kennametal during the 4th quarter worth $5,543,000.
About Kennametal
Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.
Featured Articles
- Five stocks we like better than Kennametal
- Financial Services Stocks Investing
- Astera Labs: AI Infrastructure Play With Significant Growth Ahead
- Find and Profitably Trade Stocks at 52-Week Lows
- Is IBM’s AI Transformation Powering a Sustained Rally?
- Growth Stocks: What They Are, Examples and How to Invest
- NVIDIA’s Stock Price Hits New Highs: This Is What’s Next
Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.