Loop Capital Raises Kennametal (NYSE:KMT) Price Target to $26.00

Kennametal (NYSE:KMT) had its target price increased by analysts at Loop Capital from $24.00 to $26.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Loop Capital’s price objective would suggest a potential downside of 8.00% from the company’s current price.

KMT has been the subject of several other reports. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Finally, Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.00.

Kennametal Stock Performance

Shares of KMT opened at $28.26 on Tuesday. The company has a market capitalization of $2.20 billion, a PE ratio of 22.08, a PEG ratio of 2.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The company’s 50 day moving average price is $26.33 and its 200 day moving average price is $25.30. Kennametal has a 52 week low of $22.50 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Research analysts expect that Kennametal will post 1.45 EPS for the current fiscal year.

Institutional Trading of Kennametal

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in shares of Kennametal by 139.9% during the first quarter. SG Americas Securities LLC now owns 10,119 shares of the industrial products company’s stock valued at $252,000 after buying an additional 5,901 shares during the last quarter. ProShare Advisors LLC increased its stake in Kennametal by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 945 shares during the period. Covestor Ltd raised its holdings in Kennametal by 77.3% in the 1st quarter. Covestor Ltd now owns 3,060 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 1,334 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Kennametal in the 1st quarter worth approximately $228,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Kennametal during the 1st quarter worth approximately $534,000.

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.