Barclays Has Lowered Expectations for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its price objective lowered by analysts at Barclays from $31.00 to $30.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 23.20% from the stock’s current price.

KMT has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research report on Friday, October 18th. 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 upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.67.

Kennametal Stock Up 1.7 %

Kennametal stock opened at $24.35 on Wednesday. The firm has a market capitalization of $1.89 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.26 and a beta of 1.67. The stock’s fifty day simple moving average is $26.84 and its 200-day simple moving average is $25.58. Kennametal has a twelve month low of $22.50 and a twelve month high of $32.18. 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 posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same quarter last year, the company earned $0.41 EPS. Kennametal’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that Kennametal will post 1.44 earnings per share for the current fiscal year.

Insider Transactions at Kennametal

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

Hedge Funds Weigh In On Kennametal

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Kennametal by 48.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock valued at $6,286,000 after purchasing an additional 79,547 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal during the 3rd quarter worth approximately $30,000. Sanctuary Advisors LLC raised its stake in shares of Kennametal by 19.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 22,402 shares of the industrial products company’s stock worth $581,000 after buying an additional 3,627 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Kennametal in the 3rd quarter valued at approximately $342,000.

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.