Kennametal (NYSE:KMT) Rating Increased to Buy at StockNews.com

Kennametal (NYSE:KMT - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

Other equities analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Loop Capital upped their price objective on Kennametal from $22.00 to $24.00 and gave the stock a "hold" rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Kennametal presently has a consensus rating of "Hold" and a consensus price target of $24.33.

Kennametal Stock Down 1.7 %

KMT stock traded down $0.44 during mid-day trading on Friday, reaching $25.71. The company had a trading volume of 1,206,335 shares, compared to its average volume of 674,074. The firm has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $24.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.65 and a beta of 1.65. Kennametal has a fifty-two week low of $22.08 and a fifty-two week high of $27.04.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The firm had revenue of $543.31 million for the quarter, compared to analysts' expectations of $532.72 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm's revenue was down 1.3% compared to the same quarter last year. Analysts forecast that Kennametal will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP grew its stake in Kennametal by 198.9% during 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 stake in Kennametal in the 2nd quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in Kennametal during the 1st quarter worth $32,000. Quest Partners LLC purchased a new position in Kennametal during the 2nd quarter worth $44,000. Finally, EntryPoint Capital LLC increased its stake in Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 2,603 shares during the period.

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.