Barclays Has Lowered Expectations for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its price target cut by investment analysts at Barclays from $25.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 9.35% from the stock’s previous close.

A number of other research firms have also recently commented on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Morgan Stanley decreased their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.40.

Kennametal Stock Performance

NYSE:KMT opened at $21.95 on Wednesday. The firm has a market capitalization of $1.70 billion, a PE ratio of 17.99, a PEG ratio of 3.69 and a beta of 1.69. The stock’s fifty day moving average is $22.52 and its 200 day moving average is $24.86. Kennametal has a fifty-two week low of $20.50 and a fifty-two 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 earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, sell-side analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KMT. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal during the third quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the last quarter. GAMMA Investing LLC raised its position 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 valued at $35,000 after purchasing an additional 459 shares during the last quarter. Headlands Technologies LLC boosted its stake in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,181 shares during the last quarter.

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.