Kadant (NYSE:KAI) Receives Outperform Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Kadant (NYSE:KAI) in a research report report published on Friday morning,Benzinga reports. Barrington Research currently has a $410.00 price target on the industrial products company’s stock.

Kadant Price Performance

NYSE KAI opened at $390.21 on Friday. Kadant has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The stock’s 50-day moving average is $363.28 and its two-hundred day moving average is $348.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The firm has a market cap of $4.58 billion, a P/E ratio of 39.94 and a beta of 1.29.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 15.10% and a net margin of 11.12%. On average, analysts anticipate that Kadant will post 10.11 earnings per share for the current fiscal year.

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total value of $60,527.92. Following the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kadant

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Kadant in the third quarter worth about $25,000. Hilltop National Bank bought a new position in shares of Kadant in the fourth quarter worth about $26,000. Icon Wealth Advisors LLC bought a new position in shares of Kadant in the third quarter worth about $28,000. Westside Investment Management Inc. acquired a new stake in Kadant during the third quarter worth about $31,000. Finally, Jones Financial Companies Lllp grew its position in Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after buying an additional 75 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

About Kadant

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.