DA Davidson Reiterates Neutral Rating for Kadant (NYSE:KAI)

Kadant (NYSE:KAI)‘s stock had its “neutral” rating reaffirmed by DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $295.00 price target on the industrial products company’s stock. DA Davidson’s target price would indicate a potential downside of 10.75% from the company’s previous close.

Several other analysts also recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kadant in a research report on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Kadant in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kadant presently has an average rating of “Hold” and a consensus price target of $337.50.

Kadant Stock Performance

Shares of KAI stock opened at $330.55 on Wednesday. Kadant has a fifty-two week low of $244.87 and a fifty-two week high of $409.73. The stock’s 50-day moving average is $303.40 and its two-hundred day moving average is $305.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.45 and a quick ratio of 1.60. The firm has a market cap of $3.89 billion, a P/E ratio of 38.21 and a beta of 1.25.

Insider Transactions at Kadant

In other Kadant news, Director Erin L. Russell sold 1,435 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $282.36, for a total value of $405,186.60. Following the sale, the director owned 3,066 shares of the company’s stock, valued at $865,715.76. This trade represents a 31.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rebecca Martinez O’mara sold 699 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $266.91, for a total value of $186,570.09. Following the transaction, the director owned 1,141 shares of the company’s stock, valued at approximately $304,544.31. This trade represents a 37.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kadant

Several hedge funds and other institutional investors have recently modified their holdings of KAI. Advantage Alpha Capital Partners LP bought a new stake in Kadant in the 2nd quarter valued at $2,745,000. Champlain Investment Partners LLC lifted its holdings in shares of Kadant by 54.6% during the 2nd quarter. Champlain Investment Partners LLC now owns 248,632 shares of the industrial products company’s stock worth $78,928,000 after acquiring an additional 87,832 shares during the period. Geode Capital Management LLC boosted its position in shares of Kadant by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 279,013 shares of the industrial products company’s stock valued at $88,583,000 after acquiring an additional 4,162 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Kadant by 6.8% in the second quarter. Handelsbanken Fonder AB now owns 78,079 shares of the industrial products company’s stock valued at $24,786,000 after acquiring an additional 5,000 shares during the period. Finally, World Investment Advisors acquired a new position in Kadant in the second quarter worth about $471,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.