Kennametal (NYSE:KMT)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research note issued to investors on Thursday. They presently have a $53.00 price target on the industrial products company’s stock. Barrington Research’s target price indicates a potential upside of 24.44% from the stock’s current price. Barrington Research also issued estimates for Kennametal’s Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.83 EPS and FY2019 earnings at $2.94 EPS.
A number of other equities analysts have also weighed in on KMT. BMO Capital Markets upped their target price on Kennametal from $45.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 13th. Credit Suisse Group upped their target price on Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. ValuEngine lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Jefferies Group restated a “buy” rating and issued a $60.00 target price on shares of Kennametal in a research note on Thursday, January 18th. Finally, TheStreet upgraded Kennametal from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.25.
Shares of Kennametal (NYSE:KMT) opened at $42.59 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. Kennametal has a one year low of $32.23 and a one year high of $52.52. The stock has a market capitalization of $3,475.03, a price-to-earnings ratio of 24.20, a P/E/G ratio of 1.98 and a beta of 1.95.
In other news, VP Judith L. Bacchus sold 18,125 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the completion of the transaction, the vice president now directly owns 38,528 shares in the company, valued at approximately $1,810,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Mclevish sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the completion of the transaction, the director now owns 66,904 shares of the company’s stock, valued at $3,211,392. The disclosure for this sale can be found here. Insiders sold a total of 45,125 shares of company stock valued at $2,140,875 over the last quarter. Company insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new stake in Kennametal during the 3rd quarter valued at about $115,000. Hartford Investment Management Co. purchased a new stake in Kennametal during the 3rd quarter valued at about $202,000. World Asset Management Inc purchased a new stake in Kennametal during the 3rd quarter valued at about $207,000. Trexquant Investment LP purchased a new stake in Kennametal during the 3rd quarter valued at about $207,000. Finally, Koch Industries Inc. purchased a new stake in Kennametal during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.
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Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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