Equities research analysts at Barrington Research downgraded shares of Kennametal Inc. (NYSE: KMT) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday.
Kennametal Inc. is a supplier of tooling, engineered components and advanced materials consumed in production processes. Its metalworking tools are made of cemented tungsten carbides, ceramics, cermets and other hard materials. It also manufactures and markets a range of toolholders, toolholding systems and rotary cutting tools by machining and fabricating steel bars and other metal alloys. The Company also manufactures products made from tungsten carbide or other hard materials that are used in engineered applications, mining and highway construction and other similar applications, including compacts and metallurgical powders. In addition, it manufactures and markets engineered components with a metal cladding technology and provide its customers with engineered component process technology. The Company operates in two segments: Metalworking Solutions & Services Group (MSSG) and Advanced Materials Solutions Group (AMSG).
Shares of Kennametal Inc. (NYSE: KMT) traded up 2.33% during mid-day trading on Monday, hitting $42.58. Kennametal Inc. has a 52 week low of $23.45 and a 52 week high of $44.11. The stock’s 50-day moving average is $39.57 and its 200-day moving average is $32.34. On average, analysts predict that Kennametal Inc. will post $0.67 EPS next quarter. The company has a market cap of $3.496 billion and a price-to-earnings ratio of 37.62.
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