Barclays Lowers Kennametal (NYSE:KMT) Price Target to $30.00

Kennametal (NYSE:KMT) had its price objective cut by investment analysts at Barclays from $31.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 25.31% from the company’s previous close.

KMT has been the subject of several other research reports. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. Morgan Stanley lifted their price target on shares of Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th. Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.67.

Kennametal Stock Down 0.7 %

Shares of NYSE KMT opened at $23.94 on Wednesday. Kennametal has a 12-month low of $22.50 and a 12-month high of $32.18. The stock’s fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $25.60. The stock has a market capitalization of $1.86 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. As a group, analysts expect that Kennametal will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Institutional Trading of Kennametal

Large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in Kennametal during the third quarter valued at $804,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Kennametal by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after acquiring an additional 20,634 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Kennametal by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after acquiring an additional 17,265 shares during the period. Jane Street Group LLC boosted its position in Kennametal by 113.7% in the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock worth $4,957,000 after purchasing an additional 101,711 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Kennametal by 95.6% during the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after purchasing an additional 79,992 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.