Barclays Issues Pessimistic Forecast for Kennametal (NYSE:KMT) Stock Price

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

Other equities analysts have also recently issued reports about the company. Morgan Stanley lowered their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Loop Capital upped their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kennametal presently has an average rating of “Hold” and an average target price of $27.00.

Kennametal Stock Up 0.2 %

Shares of NYSE:KMT opened at $22.52 on Friday. The business has a 50-day moving average price of $24.23 and a 200 day moving average price of $25.49. Kennametal has a 12-month low of $20.50 and a 12-month high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT) last announced its 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%. Sell-side analysts expect that Kennametal will post 1.18 EPS for the current year.

Insider Transactions at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Chowbey bought 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Kennametal by 33.5% during 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 boosted its holdings in shares of Kennametal by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock valued at $123,319,000 after acquiring an additional 101,159 shares during the period. Brandes Investment Partners LP grew its position in shares of Kennametal by 3.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after acquiring an additional 78,149 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of 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 acquiring an additional 308,000 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in Kennametal in the 4th quarter valued at $59,207,000.

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.