Barclays Lowers Kennametal (NYSE:KMT) Price Target to $27.00

Kennametal (NYSE:KMT) had its price target dropped by stock analysts at Barclays from $30.00 to $27.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 19.87% from the stock’s previous close.

Several other research firms also recently weighed in on KMT. Morgan Stanley dropped their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Loop Capital upped their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a research report on Friday, October 18th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.

Kennametal Price Performance

Shares of NYSE KMT opened at $22.52 on Friday. Kennametal has a fifty-two week low of $20.50 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.16 and a current ratio of 2.53. The company has a market cap of $1.75 billion, a PE ratio of 18.46, a P/E/G ratio of 2.57 and a beta of 1.66. The business has a 50-day simple moving average of $24.23 and a two-hundred day simple moving average of $25.49.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, equities analysts expect that Kennametal will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction 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. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KMT. Wellington Management Group LLP boosted its holdings in Kennametal by 33.5% in the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after buying an additional 1,567,867 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kennametal by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after purchasing an additional 101,159 shares in the last quarter. Brandes Investment Partners LP raised its stake in Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock valued at $61,819,000 after purchasing an additional 78,149 shares during the last quarter. American Century Companies Inc. raised its stake in Kennametal by 13.8% in the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after purchasing an additional 308,000 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Kennametal during the 4th quarter worth $59,207,000.

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.