Shares of Kadant Inc (NYSE:KAI) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation. Kadant’s rating score has improved by 40.1% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price objective of $80.00 for the company and are anticipating that the company will post $0.91 EPS for the current quarter, according to Zacks. Zacks has also given Kadant an industry rank of 56 out of 265 based on the ratings given to its competitors.
A number of research firms have recently commented on KAI. Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Sidoti reiterated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Barrington Research lifted their price objective on Kadant from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Finally, William Blair upgraded Kadant from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd.
Institutional investors have recently modified their holdings of the stock. Epoch Investment Partners Inc. purchased a new position in shares of Kadant during the first quarter valued at about $5,644,000. Macquarie Group Ltd. increased its stake in Kadant by 14.7% in the first quarter. Macquarie Group Ltd. now owns 558,797 shares of the industrial products company’s stock worth $33,165,000 after buying an additional 71,662 shares during the last quarter. Wells Fargo & Company MN increased its stake in Kadant by 8.9% in the first quarter. Wells Fargo & Company MN now owns 852,205 shares of the industrial products company’s stock worth $50,580,000 after buying an additional 69,468 shares during the last quarter. Renaissance Technologies LLC increased its stake in Kadant by 125.7% in the first quarter. Renaissance Technologies LLC now owns 78,100 shares of the industrial products company’s stock worth $4,635,000 after buying an additional 43,500 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Kadant by 54.1% in the first quarter. Bank of New York Mellon Corp now owns 121,378 shares of the industrial products company’s stock worth $7,204,000 after buying an additional 42,617 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.
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Kadant (NYSE KAI) opened at 76.40 on Monday. The stock has a market cap of $840.40 million, a P/E ratio of 24.98 and a beta of 1.35. The company has a 50-day moving average price of $74.73 and a 200-day moving average price of $64.89. Kadant has a one year low of $49.19 and a one year high of $81.54.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $102.86 million for the quarter, compared to analyst estimates of $99.30 million. Kadant had a return on equity of 12.35% and a net margin of 8.12%. On average, analysts anticipate that Kadant will post $3.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, July 11th. This represents a $0.84 annualized dividend and a yield of 1.10%. Kadant’s dividend payout ratio is 27.45%.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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