Kennametal (NYSE:KMT) Price Target Lowered to $27.00 at Barclays

Kennametal (NYSE:KMT - Get Free Report) had its price objective decreased by Barclays from $30.00 to $27.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Barclays's target price indicates a potential upside of 19.13% from the stock's current price.

A number of other equities analysts have also issued reports on KMT. Loop Capital raised their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, November 19th. Bank of America downgraded Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. Morgan Stanley dropped their target price on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group lowered shares of Kennametal from a "buy" rating to a "hold" rating and lowered their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.00.

Kennametal Stock Up 0.5 %

Shares of Kennametal stock traded up $0.12 during trading on Friday, reaching $22.67. The company's stock had a trading volume of 676,790 shares, compared to its average volume of 997,806. Kennametal has a 1-year low of $20.50 and a 1-year high of $32.18. The company has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $25.45. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, equities analysts forecast that Kennametal will post 1.18 earnings per share for the current year.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Wayne Witt sold 1,765 shares of Kennametal 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 $48,192.70. This represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Kennametal during the third quarter worth about $30,000. Blue Trust Inc. boosted its position in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC increased its holdings in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 459 shares during the last quarter. Headlands Technologies LLC raised its position in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 1,444 shares during the period. Finally, Signaturefd LLC raised its position in Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 1,008 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.