Kennametal (NYSE:KMT) Given New $26.00 Price Target at Loop Capital

Kennametal (NYSE:KMT) had its target price lifted by analysts at Loop Capital from $24.00 to $26.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Loop Capital’s target price indicates a potential downside of 7.77% from the stock’s previous close.

Several other brokerages have also commented on KMT. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays increased their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.00.

Kennametal Stock Down 0.9 %

Kennametal stock opened at $28.19 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of 22.02, a P/E/G ratio of 2.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The firm’s 50 day moving average price is $26.18 and its two-hundred day moving average price is $25.25. Kennametal has a twelve month low of $22.50 and a twelve month high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, research analysts predict that Kennametal will post 1.45 EPS for the current fiscal year.

Institutional Trading of Kennametal

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Kennametal by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after purchasing an additional 17,265 shares during the period. Barclays PLC boosted its holdings in Kennametal by 95.6% in the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock valued at $4,244,000 after purchasing an additional 79,992 shares during the period. Dean Investment Associates LLC boosted its holdings in Kennametal by 12.3% in the 3rd quarter. Dean Investment Associates LLC now owns 116,297 shares of the industrial products company’s stock valued at $3,016,000 after purchasing an additional 12,736 shares during the period. XTX Topco Ltd bought a new stake in Kennametal in the 3rd quarter valued at $489,000. Finally, Jane Street Group LLC boosted its holdings in Kennametal by 113.7% in the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock valued at $4,957,000 after purchasing an additional 101,711 shares during the period.

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.