Kennametal (NYSE:KMT) Given New $26.00 Price Target at Loop Capital

Kennametal (NYSE:KMT - Get Free Report) had its price objective increased by Loop Capital from $24.00 to $26.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the industrial products company's stock. Loop Capital's price objective points to a potential downside of 7.18% from the company's previous close.

Several other research firms have also issued reports on KMT. StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Barclays increased their target price on Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Finally, Bank of America lowered Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target for the company. in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $25.00.

Kennametal Stock Down 0.7 %

Shares of KMT traded down $0.19 on Tuesday, reaching $28.01. The stock had a trading volume of 251,534 shares, compared to its average volume of 717,252. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal has a 12-month low of $22.50 and a 12-month high of $32.18. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.39 and a beta of 1.64. The company has a 50-day simple moving average of $26.18 and a 200-day simple moving average of $25.25.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The firm had revenue of $481.90 million for the quarter, compared to analysts' expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Sell-side analysts predict that Kennametal will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its stake in shares of Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after buying an additional 704 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Kennametal in the second quarter worth about $28,000. Quest Partners LLC bought a new stake in shares of Kennametal during the 2nd quarter valued at about $44,000. Signaturefd LLC boosted its holdings in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock worth $53,000 after buying an additional 1,008 shares during the last quarter. Finally, EntryPoint Capital LLC grew its position in Kennametal by 2,552.0% during the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company's stock valued at $67,000 after buying an additional 2,603 shares during the period.

Kennametal Company Profile

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.