Loop Capital Reaffirms Hold Rating for Kennametal (NYSE:KMT)

Kennametal (NYSE:KMT)‘s stock had its “hold” rating reissued by investment analysts at Loop Capital in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $24.00 target price on the industrial products company’s stock, up from their previous target price of $21.00. Loop Capital’s target price suggests a potential upside of 5.54% from the stock’s previous close.

KMT has been the topic of a number of other reports. Barclays increased their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Morgan Stanley increased their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.40.

Kennametal Trading Up 3.2%

NYSE KMT opened at $22.74 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. The firm’s fifty day moving average price is $21.05 and its 200 day moving average price is $22.14. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 3.00 and a beta of 1.40. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Kennametal will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after purchasing an additional 101,159 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Kennametal by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company’s stock worth $68,552,000 after acquiring an additional 181,035 shares during the period. American Century Companies Inc. lifted its stake in shares of Kennametal by 9.2% in the 1st quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company’s stock worth $59,179,000 after acquiring an additional 234,395 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after acquiring an additional 78,149 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kennametal by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company’s stock worth $32,570,000 after acquiring an additional 49,496 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.