Kennametal (KMT) Rating Reiterated by Jefferies Group

Jefferies Group reaffirmed their buy rating on shares of Kennametal (NYSE:KMT) in a research report released on Thursday morning. Jefferies Group currently has a $60.00 target price on the industrial products company’s stock.

Several other research analysts have also weighed in on the company. KeyCorp reissued a buy rating and issued a $56.00 price objective on shares of Kennametal in a research report on Wednesday, January 10th. BMO Capital Markets lifted their price objective on Kennametal from $45.00 to $52.00 and gave the stock a market perform rating in a research report on Wednesday, December 13th. ValuEngine lowered Kennametal from a buy rating to a hold rating in a research report on Friday, December 1st. TheStreet raised Kennametal from a c+ rating to a b rating in a research report on Thursday, November 2nd. Finally, Credit Suisse Group lifted their price objective on Kennametal from $40.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Kennametal currently has an average rating of Hold and a consensus target price of $48.95.

Kennametal (NYSE KMT) traded up $1.29 during mid-day trading on Thursday, hitting $51.25. The stock had a trading volume of 916,744 shares, compared to its average volume of 592,125. Kennametal has a 1 year low of $32.23 and a 1 year high of $52.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The company has a market cap of $4,153.71, a price-to-earnings ratio of 37.96, a PEG ratio of 2.42 and a beta of 1.98.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The firm had revenue of $542.45 million during the quarter, compared to analyst estimates of $516.80 million. During the same period last year, the company posted $0.11 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. equities analysts forecast that Kennametal will post 2.54 earnings per share for the current year.

In related news, Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the sale, the director now directly owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Mclevish sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total value of $960,000.00. Following the completion of the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The disclosure for this sale can be found here. Insiders sold a total of 59,570 shares of company stock valued at $2,816,345 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of KMT. Fortaleza Asset Management Inc. bought a new stake in Kennametal in the 3rd quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kennametal by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares in the last quarter. Hartford Investment Management Co. bought a new stake in Kennametal in the 3rd quarter valued at about $202,000. World Asset Management Inc bought a new stake in Kennametal in the 3rd quarter valued at about $207,000. Finally, Trexquant Investment LP bought a new stake in Kennametal in the 3rd quarter valued at about $207,000. 98.59% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Kennametal (KMT) Rating Reiterated by Jefferies Group” was published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.com-unik.info/2018/01/21/kennametal-kmt-rating-reiterated-by-jefferies-group.html.

About Kennametal

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

Analyst Recommendations for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit