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

Kennametal (NYSE:KMT - Get Free Report) had its target price lowered by equities research analysts at Barclays from $25.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Barclays's price target indicates a potential upside of 11.03% from the stock's current price.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Jefferies Financial Group lowered Kennametal from a "buy" rating to a "hold" rating and dropped their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Morgan Stanley reduced their price objective on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.40.

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Kennametal Price Performance

Shares of NYSE:KMT traded down $0.36 during trading on Wednesday, hitting $21.62. 703,920 shares of the company's stock were exchanged, compared to its average volume of 819,078. The business's 50-day simple moving average is $22.46 and its 200 day simple moving average is $24.85. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.69 and a beta of 1.69. Kennametal has a 52-week low of $20.50 and a 52-week high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities analysts predict that Kennametal will post 1.17 EPS for the current year.

Insider Activity

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.41% of the company's stock.

Institutional Trading of Kennametal

Several institutional investors have recently added to or reduced their stakes in KMT. Pacer Advisors Inc. bought a new stake in Kennametal during the 4th quarter valued at $59,207,000. Wellington Management Group LLP increased its position 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 valued at $162,105,000 after buying an additional 1,567,867 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Kennametal in the 3rd quarter valued at approximately $10,295,000. American Century Companies Inc. boosted its stake in 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 worth $61,106,000 after purchasing an additional 308,000 shares in the last quarter. Finally, Norges Bank acquired a new position in Kennametal during the 4th quarter valued at approximately $5,543,000.

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.