Kadant’s (KAI) “Buy” Rating Reiterated at Barrington Research

Barrington Research restated their buy rating on shares of Kadant (NYSE:KAI) in a report released on Tuesday morning, MarketBeat reports. Barrington Research currently has a $112.00 price target on the industrial products company’s stock. Barrington Research also issued estimates for Kadant’s Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $5.19 EPS and FY2019 earnings at $5.61 EPS.

KAI has been the topic of several other reports. Zacks Investment Research raised shares of Kadant from a hold rating to a buy rating and set a $108.00 price target on the stock in a research note on Wednesday, March 28th. ValuEngine raised shares of Kadant from a hold rating to a buy rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $106.00.

Kadant opened at $97.40 on Tuesday, according to MarketBeat. The company has a market cap of $1.05 billion, a PE ratio of 21.69 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.10 and a quick ratio of 1.38. Kadant has a 1-year low of $95.20 and a 1-year high of $95.60.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.11. The company had revenue of $149.19 million during the quarter, compared to analyst estimates of $145.42 million. Kadant had a net margin of 5.88% and a return on equity of 16.27%. The company’s revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share. equities analysts predict that Kadant will post 5.2 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 9th. Stockholders of record on Thursday, July 12th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, July 11th. This represents a $0.88 annualized dividend and a dividend yield of 0.90%. Kadant’s dividend payout ratio (DPR) is currently 19.60%.

In other Kadant news, insider Jeffrey L. Powell sold 7,277 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $100.38, for a total value of $730,465.26. Following the transaction, the insider now directly owns 7,102 shares of the company’s stock, valued at $712,898.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William P. Tully sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $94.39, for a total transaction of $188,780.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at $448,352.50. The disclosure for this sale can be found here. Insiders have sold 17,854 shares of company stock worth $1,796,711 over the last three months. 5.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in KAI. SG Americas Securities LLC bought a new position in Kadant in the fourth quarter valued at approximately $104,000. Meeder Asset Management Inc. boosted its stake in Kadant by 264.1% in the fourth quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 1,199 shares during the last quarter. Brinker Capital Inc. bought a new position in Kadant in the first quarter valued at approximately $208,000. Trexquant Investment LP bought a new position in Kadant in the first quarter valued at approximately $231,000. Finally, Citadel Advisors LLC bought a new position in Kadant in the first quarter valued at approximately $232,000. 92.99% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Company Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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