Kadant (NYSE:KAI) Price Target Lowered to $275.00 at DA Davidson

Kadant (NYSE:KAI) had its price objective cut by research analysts at DA Davidson from $300.00 to $275.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price objective would indicate a potential downside of 8.38% from the company’s previous close.

Separately, Barrington Research restated an “outperform” rating and set a $380.00 price objective on shares of Kadant in a report on Thursday.

Kadant Price Performance

Shares of KAI opened at $300.16 on Thursday. The company has a 50 day moving average of $331.99 and a two-hundred day moving average of $356.58. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant has a twelve month low of $266.23 and a twelve month high of $429.95. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 31.66 and a beta of 1.24.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The firm had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $239.41 million. During the same quarter last year, the firm earned $2.38 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, analysts predict that Kadant will post 9.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kadant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KAI. Hilltop National Bank acquired a new position in shares of Kadant in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in Kadant in the first quarter valued at approximately $30,000. Westside Investment Management Inc. acquired a new position in Kadant in the 3rd quarter worth approximately $31,000. Jones Financial Companies Lllp raised its position in Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after buying an additional 75 shares during the last quarter. Finally, Optimum Investment Advisors lifted its stake in Kadant by 50.0% during the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.