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

Kennametal (NYSE:KMT) had its target price lowered by stock analysts at Barclays from $25.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price points to a potential upside of 9.35% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Morgan Stanley decreased their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and a consensus price target of $26.40.

Kennametal Price Performance

Shares of Kennametal stock opened at $21.95 on Wednesday. The firm has a market cap of $1.70 billion, a PE ratio of 17.99, a P/E/G ratio of 3.69 and a beta of 1.69. Kennametal has a twelve month low of $20.50 and a twelve month high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $22.52 and a 200 day moving average price of $24.86.

Kennametal (NYSE:KMT) last issued its quarterly earnings results 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%. Sell-side analysts predict that Kennametal will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Kennametal

A number of institutional investors have recently bought and sold shares of KMT. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kennametal during the 3rd quarter worth approximately $30,000. Blue Trust Inc. grew its position in Kennametal by 120.9% in 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 period. GAMMA Investing LLC increased its stake in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares during the last quarter. Headlands Technologies LLC raised its position in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,444 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock valued at $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.