Kennametal (NYSE:KMT) Upgraded to Buy by StockNews.com

Kennametal (NYSE:KMT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. Barclays increased their price target on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Loop Capital increased their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.17.

Kennametal Price Performance

KMT stock opened at $25.72 on Friday. Kennametal has a 1 year low of $22.08 and a 1 year high of $27.04. The firm has a market cap of $2.02 billion, a P/E ratio of 19.05, a PEG ratio of 2.62 and a beta of 1.65. The stock’s 50 day moving average price is $25.08 and its 200 day moving average price is $24.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The company had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Kennametal will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of Kennametal

Several large investors have recently added to or reduced their stakes in KMT. Norges Bank acquired a new stake in Kennametal in the 4th quarter valued at $15,400,000. Hsbc Holdings PLC increased its holdings in Kennametal by 188.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after purchasing an additional 54,882 shares in the last quarter. Olympiad Research LP increased its holdings in Kennametal by 62.1% in the 4th quarter. Olympiad Research LP now owns 17,132 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 6,566 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in Kennametal by 141,050.0% in the 4th quarter. TFO Wealth Partners LLC now owns 5,646 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 5,642 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in Kennametal by 808.3% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 75,207 shares of the industrial products company’s stock valued at $1,940,000 after purchasing an additional 66,927 shares in the last quarter.

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.