Kennametal Inc. (NYSE:KMT) Receives $27.67 Consensus Price Target from Brokerages

Kennametal Inc. (NYSE:KMT - Get Free Report) has been assigned a consensus rating of "Reduce" from the six ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $27.67.

A number of equities research analysts recently issued reports on KMT shares. Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, November 19th. Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Barclays cut their price objective on shares of Kennametal from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Kennametal from $24.50 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and cut their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th.

Kennametal Stock Down 1.1 %

Shares of KMT stock traded down $0.27 during trading hours on Tuesday, hitting $23.97. 440,796 shares of the company were exchanged, compared to its average volume of 810,794. Kennametal has a 52 week low of $22.50 and a 52 week high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $25.53 and a two-hundred day moving average of $25.67. The company has a market capitalization of $1.86 billion, a PE ratio of 18.74, a PEG ratio of 2.32 and a beta of 1.67.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. During the same period in the prior year, the business earned $0.41 EPS. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that Kennametal will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Kennametal

In related news, VP Franklin Cardenas sold 20,470 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares of the company's stock, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after acquiring an additional 459 shares during the last quarter. Covestor Ltd lifted its holdings in Kennametal by 14.4% during the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock worth $97,000 after purchasing an additional 472 shares during the last quarter. Inspire Investing LLC boosted its stake in Kennametal by 3.8% in the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock valued at $445,000 after purchasing an additional 672 shares during the period. Quarry LP boosted its stake in Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 704 shares during the period. Finally, Blue Trust Inc. grew its holdings in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after buying an additional 716 shares in the last quarter.

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.