Barclays Lowers Kennametal (NYSE:KMT) Price Target to $22.00

Kennametal (NYSE:KMT) had its target price decreased by equities research analysts at Barclays from $24.00 to $22.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 16.11% from the company’s previous close.

Several other research analysts have also commented on the stock. Morgan Stanley dropped their target price on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Kennametal Trading Up 3.4 %

NYSE:KMT opened at $18.95 on Thursday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.69 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $21.35 and a 200 day moving average of $24.34. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 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%. On average, research analysts predict that Kennametal will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Kennametal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in Kennametal during the 3rd quarter valued at about $30,000. Blue Trust Inc. lifted its position in Kennametal by 120.9% during 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 boosted its holdings in Kennametal by 45.9% in 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. Curat Global LLC purchased a new stake in Kennametal in the first quarter worth approximately $35,000. Finally, Parallel Advisors LLC grew its position in Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,015 shares during the period.

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.