Barrington Research Reiterates Outperform Rating for Kadant (NYSE:KAI)

Kadant (NYSE:KAI)‘s stock had its “outperform” rating restated by stock analysts at Barrington Research in a report issued on Wednesday, Benzinga reports. They presently have a $360.00 target price on the industrial products company’s stock. Barrington Research’s price objective points to a potential upside of 22.88% from the stock’s current price.

Separately, William Blair reaffirmed an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Kadant Price Performance

Shares of Kadant stock opened at $292.96 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. The company has a market cap of $3.44 billion, a PE ratio of 30.52 and a beta of 1.25. The firm has a fifty day moving average price of $280.21 and a two-hundred day moving average price of $291.64. Kadant has a fifty-two week low of $196.99 and a fifty-two week high of $354.02.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.42. The business had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.40 earnings per share. Analysts expect that Kadant will post 10.03 EPS for the current year.

Insider Transactions at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the completion of the transaction, the director now owns 3,802 shares in the company, valued at approximately $1,061,708.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Trading of Kadant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Kadant by 37.0% in the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 50 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Kadant by 7.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 57 shares during the period. Sheets Smith Wealth Management raised its position in shares of Kadant by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock valued at $496,000 after acquiring an additional 80 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Kadant in the 1st quarter valued at $28,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

About Kadant

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.