Kennametal (NYSE:KMT) Raised to Buy at StockNews.com

Kennametal (NYSE:KMT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research analysts have also weighed in on the stock. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Loop Capital lifted their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.00.

Kennametal Stock Up 0.4 %

Kennametal stock opened at $26.15 on Friday. Kennametal has a 1-year low of $22.08 and a 1-year high of $27.04. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.65 and a beta of 1.65. The firm’s fifty day moving average price is $25.32 and its two-hundred day moving average price is $24.77. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The company had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same period last year, the firm earned $0.51 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts predict that Kennametal will post 1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after buying an additional 704 shares during the period. Canada Pension Plan Investment Board purchased a new position in Kennametal in the second quarter worth about $28,000. Headlands Technologies LLC bought a new stake in shares of Kennametal during the 1st quarter valued at about $32,000. Quest Partners LLC purchased a new stake in shares of Kennametal during the 2nd quarter valued at about $44,000. Finally, EntryPoint Capital LLC increased its position in shares of Kennametal by 2,552.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,603 shares during the last quarter.

About Kennametal

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.