Kadant (NYSE:KAI) Stock Price Expected to Rise, Barrington Research Analyst Says

Kadant (NYSE:KAI) had its target price increased by Barrington Research from $360.00 to $410.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective suggests a potential upside of 18.13% from the stock’s current price.

Kadant Trading Down 1.4 %

KAI opened at $347.07 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company’s 50 day simple moving average is $371.48 and its two-hundred day simple moving average is $332.45. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 35.52 and a beta of 1.25. Kadant has a 1-year low of $249.51 and a 1-year high of $429.95.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. During the same quarter last year, the business posted $2.69 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that Kadant will post 10.11 EPS for the current fiscal year.

Insider Buying and Selling at Kadant

In related news, Director Rebecca Martinez O’mara sold 300 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the sale, the director now directly owns 1,293 shares in the company, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas C. Leonard sold 152 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,052 shares of company stock worth $1,091,455 in the last ninety days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Kadant

A number of institutional investors and hedge funds have recently made changes to their positions in KAI. Ashton Thomas Securities LLC acquired a new stake in Kadant in the 3rd quarter valued at approximately $25,000. Icon Wealth Advisors LLC acquired a new stake in shares of Kadant in the third quarter valued at $28,000. Westside Investment Management Inc. purchased a new stake in shares of Kadant in the 3rd quarter valued at $31,000. Park Place Capital Corp lifted its stake in Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Kadant during the 3rd quarter valued at about $74,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Company Profile

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.