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

Kennametal (NYSE:KMT) had its target price hoisted by analysts at Loop Capital from $24.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Loop Capital’s price target suggests a potential downside of 8.00% from the stock’s current price.

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

Kennametal Stock Up 1.0 %

Shares of KMT opened at $28.26 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $26.33 and a two-hundred day moving average price of $25.30. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.39 and a beta of 1.64. Kennametal has a 12 month low of $22.50 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities analysts predict that Kennametal will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kennametal

A number of large investors have recently added to or reduced their stakes in KMT. Quarry LP lifted its position in Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal in the 2nd quarter valued at approximately $28,000. Quest Partners LLC bought a new stake in Kennametal during the second quarter worth $44,000. Signaturefd LLC lifted its position in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of Kennametal by 2,552.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,603 shares in the last quarter.

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.