Kennametal (KMT) Rating Increased to Hold at ValuEngine

Kennametal (NYSE:KMT) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other equities research analysts also recently weighed in on KMT. Barclays reiterated a “hold” rating and set a $44.00 target price on shares of Kennametal in a research note on Wednesday, August 8th. BMO Capital Markets reiterated a “hold” rating and set a $42.00 target price on shares of Kennametal in a research note on Thursday, July 19th. Stifel Nicolaus reiterated a “hold” rating and set a $47.00 target price on shares of Kennametal in a research note on Thursday, August 9th. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Friday, October 12th. Finally, Bank of America decreased their target price on shares of Kennametal from $40.00 to $35.00 and set an “underperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of KMT opened at $39.46 on Thursday. Kennametal has a fifty-two week low of $32.91 and a fifty-two week high of $52.52. The stock has a market cap of $3.36 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.61 and a beta of 2.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.55 and a quick ratio of 1.15.

Kennametal (NYSE:KMT) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $590.22 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Kennametal will post 3.13 EPS for the current year.

In other news, VP Michelle R. Keating sold 988 shares of Kennametal stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the sale, the vice president now directly owns 14,676 shares in the company, valued at approximately $619,327.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gaalen Jan Kees Van sold 13,606 shares of Kennametal stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the sale, the vice president now owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Kennametal by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock valued at $3,713,000 after acquiring an additional 1,364 shares during the period. D.A. Davidson & CO. lifted its position in shares of Kennametal by 21.0% during the 2nd quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 1,471 shares during the period. Arizona State Retirement System lifted its position in shares of Kennametal by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 56,673 shares of the industrial products company’s stock valued at $2,035,000 after acquiring an additional 1,534 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Kennametal by 5.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,812 shares of the industrial products company’s stock valued at $1,142,000 after acquiring an additional 1,587 shares during the period. Finally, Boothe Investment Group Inc. lifted its position in shares of Kennametal by 2.5% during the 3rd quarter. Boothe Investment Group Inc. now owns 72,181 shares of the industrial products company’s stock valued at $3,144,000 after acquiring an additional 1,742 shares during the period.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

Further Reading: Return on Investment (ROI)

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Analyst Recommendations for Kennametal (NYSE:KMT)

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