Kadant (NYSE:KAI) Given New $410.00 Price Target at Barrington Research

Kadant (NYSE:KAI - Get Free Report) had its target price hoisted by research analysts at Barrington Research from $360.00 to $410.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the industrial products company's stock. Barrington Research's price objective indicates a potential upside of 16.48% from the stock's current price.

Kadant Trading Down 0.2 %

NYSE KAI traded down $0.82 during trading hours on Thursday, reaching $351.99. The company had a trading volume of 204,100 shares, compared to its average volume of 84,632. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4.13 billion, a P/E ratio of 36.03 and a beta of 1.25. The stock has a 50-day moving average of $371.48 and a 200 day moving average of $332.45. Kadant has a 1-year low of $249.51 and a 1-year high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The firm had revenue of $271.61 million during the quarter, compared to analysts' expectations of $266.38 million. During the same quarter in the previous year, the business posted $2.69 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that Kadant will post 10.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the sale, the director now directly owns 4,250 shares in the company, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their position. The transaction 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 dated Monday, November 18th. The shares were sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares in the company, valued at $570,848.25. This trade represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,052 shares of company stock worth $1,091,455 in the last quarter. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Kadant during the 3rd quarter valued at $25,000. Icon Wealth Advisors LLC acquired a new position in shares of Kadant in the third quarter valued at $28,000. Westside Investment Management Inc. bought a new position in Kadant during the third quarter worth about $31,000. Park Place Capital Corp raised its stake 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 acquiring an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Kadant in the third quarter valued at approximately $74,000. Institutional investors own 96.13% of the company's stock.

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.