Kadant (NYSE:KAI) Given “Outperform” Rating at Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $360.00 target price on the industrial products company’s stock. Barrington Research’s price objective points to a potential upside of 7.14% from the company’s current price.

Separately, DA Davidson raised their price objective on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Kadant Stock Performance

Shares of Kadant stock traded down $5.67 on Friday, hitting $336.00. 29,801 shares of the company’s stock were exchanged, compared to its average volume of 84,313. The company has a 50-day simple moving average of $320.19 and a 200-day simple moving average of $303.37. The stock has a market capitalization of $3.94 billion, a PE ratio of 35.00 and a beta of 1.21. Kadant has a 1 year low of $214.21 and a 1 year high of $363.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.38. The business had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 EPS. As a group, equities analysts anticipate that Kadant will post 9.93 EPS for the current year.

Institutional Trading of Kadant

A number of institutional investors and hedge funds have recently bought and sold shares of KAI. Teacher Retirement System of Texas increased its holdings in Kadant by 27.8% in the 4th quarter. Teacher Retirement System of Texas now owns 1,154 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 251 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Kadant in the 4th quarter valued at $224,000. Principal Financial Group Inc. increased its holdings in Kadant by 32.1% in the 4th quarter. Principal Financial Group Inc. now owns 4,905 shares of the industrial products company’s stock valued at $1,375,000 after acquiring an additional 1,192 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in Kadant in the 4th quarter valued at $208,000. Finally, Norges Bank bought a new stake in Kadant in the 4th quarter valued at $6,917,000. 96.13% of the stock is currently owned by institutional investors.

About Kadant

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.