Kennametal Inc. (NYSE:KMT) Receives $27.67 Consensus Price Target from Analysts

Kennametal Inc. (NYSE:KMT) has received an average rating of “Reduce” from the six ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.67.

Several equities research analysts have issued reports on KMT shares. Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Barclays lowered their price target on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley increased their price objective on Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Friday, October 18th. Finally, Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th.

Insider Buying and Selling

In related news, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction on 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 owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

Institutional Trading of Kennametal

Large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Kennametal by 6.0% in the 4th quarter. Rhumbline Advisers now owns 265,241 shares of the industrial products company’s stock valued at $6,371,000 after acquiring an additional 14,936 shares during the last quarter. Legato Capital Management LLC grew its holdings in shares of Kennametal by 42.3% during the fourth quarter. Legato Capital Management LLC now owns 64,860 shares of the industrial products company’s stock worth $1,558,000 after purchasing an additional 19,285 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Kennametal in the fourth quarter valued at approximately $59,207,000. KBC Group NV raised its holdings in Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after buying an additional 1,122 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the period.

Kennametal Stock Performance

Shares of KMT stock opened at $24.21 on Tuesday. The company has a market capitalization of $1.88 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.05 and a beta of 1.67. Kennametal has a 52 week low of $22.50 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The company’s 50 day moving average price is $25.53 and its two-hundred day moving average price is $25.67.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, analysts expect that Kennametal will post 1.44 earnings per share for the current fiscal year.

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.