Barclays Lowers Kennametal (NYSE:KMT) Price Target to $30.00

Kennametal (NYSE:KMT) had its target price decreased by equities researchers at Barclays from $31.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential upside of 23.20% from the stock’s current price.

Several other research firms also recently weighed in on KMT. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a report on Friday, October 18th. Loop Capital lifted their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Morgan Stanley increased their target price on Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, Kennametal presently has an average rating of “Hold” and a consensus target price of $27.67.

Kennametal Price Performance

KMT stock opened at $24.35 on Wednesday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.26 and a beta of 1.67. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $26.84 and a 200-day moving average of $25.58. Kennametal has a 12-month low of $22.50 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, equities analysts expect that Kennametal will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kennametal

A number of large investors have recently modified their holdings of the company. Quarry LP increased its position in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Kennametal in the second quarter worth $28,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal in the 3rd quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Kennametal during the 2nd quarter worth $44,000.

Kennametal Company Profile

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.