Kennametal (NYSE:KMT) PT Lowered to $25.00

Posted by Defense World Staff on Oct 13th, 2023

Kennametal (NYSE:KMT – Get Free Report) had its price objective lowered by equities researchers at Bank of America from $28.00 to $25.00 in a report issued on Wednesday, FlyOnTheWall reports. Bank of America‘s price target would indicate a potential upside of 3.39% from the company’s current price.

Several other analysts also recently issued reports on the stock. Barclays upped their price target on shares of Kennametal from $27.00 to $28.00 in a report on Monday, July 10th. StockNews.com assumed coverage on shares of Kennametal in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.64.

Check Out Our Latest Report on Kennametal

Kennametal Stock Down 2.3 %

Shares of NYSE KMT opened at $24.18 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.37 and a quick ratio of 1.08. Kennametal has a 1 year low of $21.49 and a 1 year high of $30.60. The company has a market capitalization of $1.93 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.72 and a beta of 1.89. The company has a 50 day simple moving average of $25.77 and a 200-day simple moving average of $26.80.

Kennametal (NYSE:KMT – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.08). Kennametal had a return on equity of 9.59% and a net margin of 5.70%. The firm had revenue of $550.20 million for the quarter, compared to analysts’ expectations of $567.84 million. During the same period last year, the firm posted $0.53 earnings per share. Kennametal’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Kennametal will post 1.8 earnings per share for the current year.

Insider Transactions at Kennametal

In other news, Director William J. Harvey sold 1,215 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $25.50, for a total value of $30,982.50. Following the completion of the sale, the director now owns 34,431 shares of the company’s stock, valued at $877,990.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Kennametal

Several large investors have recently made changes to their positions in KMT. BlackRock Inc. increased its stake in Kennametal by 32.3% during the 1st quarter. BlackRock Inc. now owns 13,646,987 shares of the industrial products company’s stock worth $376,384,000 after buying an additional 3,328,786 shares during the period. Ariel Investments LLC increased its stake in Kennametal by 8.9% during the 1st quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock worth $277,739,000 after buying an additional 790,456 shares during the period. Dimensional Fund Advisors LP increased its stake in Kennametal by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,566,810 shares of the industrial products company’s stock worth $125,950,000 after buying an additional 360,068 shares during the period. State Street Corp increased its stake in Kennametal by 13.0% during the 1st quarter. State Street Corp now owns 3,042,929 shares of the industrial products company’s stock worth $83,924,000 after buying an additional 349,174 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Kennametal by 10.1% during the 4th quarter. Victory Capital Management Inc. now owns 3,247,088 shares of the industrial products company’s stock worth $78,125,000 after buying an additional 297,345 shares during the period.

About Kennametal

(Get Free Report)

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.