Kennametal (NYSE:KMT) had its price objective cut by stock analysts at JPMorgan Chase from $48.00 to $45.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. JPMorgan Chase’s price objective would indicate a potential upside of 12.36% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Barrington Research reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Kennametal in a research report on Thursday, February 8th. KeyCorp reaffirmed a “buy” rating and issued a $56.00 target price on shares of Kennametal in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Stifel Nicolaus upped their target price on Kennametal from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Sunday, February 4th. Finally, ValuEngine downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Kennametal has an average rating of “Hold” and a consensus target price of $49.95.
Kennametal stock opened at $40.05 on Tuesday. Kennametal has a 12 month low of $32.23 and a 12 month high of $52.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. The company has a market capitalization of $3,218.89, a PE ratio of 26.35, a PEG ratio of 3.07 and a beta of 2.03.
Kennametal (NYSE:KMT) last posted its earnings results on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The firm had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same period in the previous year, the company posted $0.24 EPS. Kennametal’s revenue for the quarter was up 17.0% compared to the same quarter last year. analysts anticipate that Kennametal will post 2.57 EPS for the current year.
A number of large investors have recently modified their holdings of KMT. Victory Capital Management Inc. acquired a new stake in Kennametal during the fourth quarter worth approximately $48,911,000. Bank of New York Mellon Corp grew its position in Kennametal by 39.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,719,336 shares of the industrial products company’s stock worth $83,234,000 after buying an additional 487,255 shares in the last quarter. Janus Henderson Group PLC grew its position in Kennametal by 23.3% during the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock worth $101,234,000 after buying an additional 474,225 shares in the last quarter. Impala Asset Management LLC acquired a new stake in Kennametal during the fourth quarter worth approximately $16,537,000. Finally, UBS Asset Management Americas Inc. grew its position in Kennametal by 531.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 354,938 shares of the industrial products company’s stock worth $17,183,000 after buying an additional 298,762 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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