Shares of Kennametal Inc. (NYSE:KMT) have received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$26.00.
A number of research analysts have commented on the company. Credit Suisse Group AG restated a “hold” rating on shares of Kennametal in a research note on Saturday, July 9th. Jefferies Group reiterated a “buy” rating and issued a $30.00 price target on shares of Kennametal in a research note on Sunday, July 17th. Barrington Research boosted their price target on Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Seaport Global Securities cut Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 18th. Finally, Zacks Investment Research cut Kennametal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
Kennametal (NYSE:KMT) opened at 28.92 on Thursday. The company’s 50 day moving average is $28.14 and its 200-day moving average is $24.86. The company’s market capitalization is $2.30 billion. Kennametal has a 52-week low of $15.11 and a 52-week high of $29.45.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $521.20 million for the quarter, compared to analysts’ expectations of $519.51 million. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities analysts anticipate that Kennametal will post $1.26 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of KMT. Aperio Group LLC raised its position in Kennametal by 148.3% in the first quarter. Aperio Group LLC now owns 25,586 shares of the company’s stock valued at $575,000 after buying an additional 15,283 shares during the period. Virginia Retirement System bought a new position in Kennametal during the first quarter valued at approximately $1,190,000. Pacad Investment Ltd. bought a new position in Kennametal during the first quarter valued at approximately $651,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Kennametal by 118.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 98,592 shares of the company’s stock valued at $2,217,000 after buying an additional 53,532 shares during the period. Finally, Teachers Advisors Inc. raised its position in Kennametal by 8.3% in the first quarter. Teachers Advisors Inc. now owns 68,549 shares of the company’s stock valued at $1,542,000 after buying an additional 5,257 shares during the period. 97.66% of the stock is owned by institutional investors.
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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