Kennametal (NYSE:KMT) Given New $20.00 Price Target at Morgan Stanley

Kennametal (NYSE:KMT) had its price target cut by equities research analysts at Morgan Stanley from $24.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.28% from the company’s previous close.

A number of other research firms have also weighed in on KMT. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Barclays dropped their price target on shares of Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.20.

Kennametal Price Performance

KMT stock opened at $18.64 on Wednesday. The firm has a market cap of $1.44 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.69 and a beta of 1.55. The firm’s fifty day moving average is $21.08 and its 200 day moving average is $24.15. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

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 analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Research analysts predict that Kennametal will post 1.17 earnings per share for the current year.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after purchasing an additional 115,718 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kennametal during the 4th quarter valued at about $373,000. AMH Equity Ltd bought a new stake in Kennametal during the fourth quarter worth about $1,441,000. Finally, Amundi grew its holdings in Kennametal by 174.7% in the fourth quarter. Amundi now owns 40,359 shares of the industrial products company’s stock worth $982,000 after purchasing an additional 25,666 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.