Kadant (NYSE:KAI) Given “Outperform” Rating at Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research report issued on Friday, Benzinga reports. They presently have a $360.00 price objective on the industrial products company’s stock. Barrington Research’s price objective points to a potential upside of 7.14% from the stock’s current price.

Separately, DA Davidson lifted their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Kadant Price Performance

Shares of NYSE:KAI traded down $5.67 on Friday, reaching $336.00. The company’s stock had a trading volume of 29,801 shares, compared to its average volume of 84,313. Kadant has a 52-week low of $214.21 and a 52-week high of $363.40. The company has a market cap of $3.94 billion, a P/E ratio of 35.00 and a beta of 1.21. The company has a 50-day simple moving average of $320.19 and a 200 day simple moving average of $303.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business had revenue of $275.00 million during the quarter, compared to analysts’ expectations of $263.50 million. During the same period last year, the company posted $2.54 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Kadant will post 9.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Kadant

Several large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in Kadant in the 2nd quarter valued at about $615,000. Algert Global LLC purchased a new stake in Kadant in the 2nd quarter valued at about $347,000. Susquehanna Fundamental Investments LLC boosted its position in Kadant by 175.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 5,627 shares of the industrial products company’s stock valued at $1,653,000 after buying an additional 3,584 shares during the period. Select Equity Group L.P. boosted its position in Kadant by 0.7% in the 2nd quarter. Select Equity Group L.P. now owns 13,525 shares of the industrial products company’s stock valued at $3,973,000 after buying an additional 91 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Kadant by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,651 shares of the industrial products company’s stock valued at $1,954,000 after buying an additional 194 shares during the period. 96.13% of the stock is owned by hedge funds and other 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.