Kadant (NYSE:KAI) Earns “Outperform” Rating from Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a report released on Friday,Benzinga reports. They presently have a $410.00 price objective on the industrial products company’s stock. Barrington Research’s price objective would suggest a potential upside of 5.07% from the company’s previous close.

Kadant Stock Performance

Shares of KAI stock opened at $390.21 on Friday. The stock’s fifty day simple moving average is $363.28 and its 200-day simple moving average is $348.94. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant has a 1-year low of $249.51 and a 1-year high of $429.95. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 39.94 and a beta of 1.29.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 15.10% and a net margin of 11.12%. On average, sell-side analysts predict that Kadant will post 10.11 earnings per share for the current fiscal year.

Insider Transactions at Kadant

In related news, VP Fredrik H. Westerhout sold 600 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the transaction, the vice president now owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total value of $60,527.92. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kadant

Several large investors have recently added to or reduced their stakes in KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kadant in the 4th quarter valued at approximately $193,595,000. Vanguard Group Inc. raised its holdings in Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company’s stock valued at $420,292,000 after acquiring an additional 243,267 shares in the last quarter. Norges Bank acquired a new position in Kadant in the 4th quarter valued at approximately $46,529,000. Raymond James Financial Inc. acquired a new position in Kadant in the 4th quarter valued at approximately $39,400,000. Finally, Conestoga Capital Advisors LLC acquired a new position in Kadant in the 4th quarter valued at approximately $38,560,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Company Profile

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.