Kennametal (NYSE:KMT) Upgraded at StockNews.com

Kennametal (NYSE:KMT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other brokerages also recently commented on KMT. Barclays cut their target price on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley lifted their price target on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Finally, Loop Capital raised their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kennametal presently has an average rating of “Hold” and an average price target of $27.67.

Kennametal Stock Up 0.1 %

Shares of Kennametal stock opened at $23.80 on Monday. Kennametal has a one year low of $22.50 and a one year high of $32.18. The company has a market cap of $1.85 billion, a P/E ratio of 18.59, a PEG ratio of 2.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The firm has a fifty day moving average of $25.71 and a two-hundred day moving average of $25.70.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. On average, analysts forecast that Kennametal will post 1.44 earnings per share for the current year.

Insider Transactions at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Kennametal

Institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Kennametal in the 3rd quarter valued at approximately $804,000. GAMMA Investing LLC lifted its stake in shares of Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares during the period. Geode Capital Management LLC increased its stake in Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after acquiring an additional 17,265 shares during the period. Jane Street Group LLC lifted its position in shares of Kennametal by 113.7% in the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock worth $4,957,000 after acquiring an additional 101,711 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Kennametal by 48.8% in the third quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock worth $6,286,000 after purchasing an additional 79,547 shares during the period.

About Kennametal

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.