Kennametal (NYSE:KMT) Price Target Lowered to $24.00 at Morgan Stanley

Kennametal (NYSE:KMT) had its price target cut by investment analysts at Morgan Stanley from $28.00 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. Morgan Stanley’s target price suggests a potential upside of 6.79% from the stock’s current price.

Several other research analysts have also commented on KMT. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Loop Capital upped their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Finally, Barclays cut their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and an average price target of $27.60.

Kennametal Trading Up 1.0 %

NYSE KMT opened at $22.47 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.75 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The company has a 50 day moving average price of $24.33 and a 200 day moving average price of $25.52. Kennametal has a 52 week low of $20.50 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, sell-side analysts forecast that Kennametal will post 1.18 EPS for the current fiscal year.

Insider Transactions at Kennametal

In other news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction 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 sale, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Chowbey acquired 10,000 shares of the business’s 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 purchase, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.41% of the company’s stock.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in KMT. Sanctuary Advisors LLC purchased a new stake in Kennametal during the second quarter worth $451,000. SG Americas Securities LLC boosted its holdings in Kennametal by 74.6% during the third quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock worth $316,000 after buying an additional 5,202 shares in the last quarter. CWM LLC boosted its holdings in Kennametal by 40.3% during the third quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,230 shares in the last quarter. Inspire Advisors LLC purchased a new stake in Kennametal during the third quarter worth $204,000. Finally, Signaturefd LLC boosted its holdings in Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares in the last quarter.

Kennametal Company Profile

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.