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

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

Kadant Stock Down 1.4 %

Kadant stock opened at $347.07 on Thursday. The firm has a market capitalization of $4.08 billion, a P/E ratio of 35.52 and a beta of 1.25. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant has a twelve month low of $249.51 and a twelve month high of $429.95. The stock’s fifty day simple moving average is $371.48 and its 200-day simple moving average is $332.45.

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

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 152 shares of the firm’s 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Fredrik H. Westerhout sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the transaction, the vice president now directly owns 1,437 shares of the company’s stock, valued at $570,848.25. This trade represents a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,052 shares of company stock valued at $1,091,455. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kadant

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

About Kadant

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.