Kennametal (NYSE:KMT) Price Target Cut to $24.00 by Analysts at Barclays

Kennametal (NYSE:KMT) had its target price dropped by equities researchers at Barclays from $25.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 7.64% from the stock’s previous close.

KMT has been the topic of a number of other reports. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley lowered their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.40.

Kennametal Trading Down 0.8 %

NYSE:KMT opened at $22.30 on Wednesday. Kennametal has a 12-month low of $20.50 and a 12-month high of $32.18. The firm has a market cap of $1.72 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $22.61 and a 200 day moving average price of $24.90.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Sell-side analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal during the third quarter worth about $30,000. Blue Trust Inc. increased its holdings in shares of Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC raised its stake in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares during the period. Finally, Sterling Capital Management LLC grew its position in Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock valued at $59,000 after buying an additional 2,181 shares during 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.