StockNews.com Upgrades Kennametal (NYSE:KMT) to “Buy”

Kennametal (NYSE:KMTGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other brokerages also recently weighed in on KMT. JPMorgan Chase & Co. downgraded shares of Kennametal from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $37.00 to $31.00 in a research note on Monday, March 28th. Loop Capital cut shares of Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $41.00 to $29.00 in a report on Wednesday, April 6th. TheStreet cut shares of Kennametal from a “b” rating to a “c+” rating in a report on Friday, February 25th. Barclays cut their price target on shares of Kennametal from $30.00 to $28.00 in a report on Wednesday, May 4th. Finally, Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a report on Wednesday, February 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kennametal presently has an average rating of “Hold” and an average price target of $35.63.

Shares of NYSE KMT opened at $25.93 on Tuesday. Kennametal has a fifty-two week low of $25.00 and a fifty-two week high of $41.75. The company has a 50 day simple moving average of $27.97 and a two-hundred day simple moving average of $33.02. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.98 and a beta of 1.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 2.27.

Kennametal (NYSE:KMTGet Rating) last announced its earnings results on Monday, May 2nd. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Kennametal had a net margin of 6.91% and a return on equity of 11.05%. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, analysts forecast that Kennametal will post 1.73 earnings per share for the current fiscal year.

In other Kennametal news, Director Joseph Alvarado purchased 1,000 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were acquired at an average cost of $29.05 per share, for a total transaction of $29,050.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William M. Lambert purchased 36,698 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was acquired at an average price of $26.23 per share, for a total transaction of $962,588.54. Following the completion of the transaction, the director now directly owns 52,360 shares of the company’s stock, valued at approximately $1,373,402.80. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMT. Avondale Wealth Management purchased a new position in shares of Kennametal during the 4th quarter valued at $25,000. UMB Bank N A MO purchased a new position in shares of Kennametal during the 4th quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of Kennametal during the 1st quarter valued at $39,000. Maverick Capital Ltd. purchased a new position in shares of Kennametal during the 4th quarter valued at $53,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Kennametal during the 4th quarter valued at $83,000.

Kennametal Company Profile (Get Rating)

Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.

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