Kennametal (NYSE:KMT) PT Lowered to $27.00 at UBS Group

Kennametal (NYSE:KMTGet Rating) had its target price dropped by analysts at UBS Group from $35.00 to $27.00 in a report issued on Friday, The Fly reports. UBS Group’s price objective points to a potential upside of 13.49% from the company’s current price.

A number of other brokerages have also recently issued reports on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Barclays cut their target price on Kennametal from $30.00 to $28.00 in a research note on Wednesday, May 4th. The Goldman Sachs Group cut their target price on Kennametal from $33.00 to $29.00 and set a “sell” rating on the stock in a research note on Thursday, April 7th. Loop Capital cut Kennametal from a “buy” rating to a “hold” rating and cut their target price for the stock from $41.00 to $29.00 in a research note on Wednesday, April 6th. Finally, JPMorgan Chase & Co. cut Kennametal from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $37.00 to $31.00 in a research note on Monday, March 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.63.

Shares of NYSE:KMT opened at $23.79 on Friday. The stock’s 50-day moving average price is $26.82 and its 200-day moving average price is $31.07. Kennametal has a 12-month low of $23.53 and a 12-month high of $41.22. The stock has a market capitalization of $1.97 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.90. The company has a current ratio of 2.27, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Kennametal (NYSE:KMTGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Kennametal had a return on equity of 11.05% and a net margin of 6.91%. The firm had revenue of $512.26 million for the quarter, compared to analysts’ expectations of $508.77 million. During the same period last year, the firm earned $0.32 earnings per share. As a group, research analysts predict that Kennametal will post 1.73 EPS for the current year.

In other news, Director William M. Lambert acquired 36,698 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were acquired at an average cost of $26.23 per share, with a total value of $962,588.54. Following the transaction, the director now owns 52,360 shares in the company, valued at approximately $1,373,402.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.47% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Avondale Wealth Management bought a new stake in Kennametal during the 4th quarter valued at approximately $25,000. UMB Bank N A MO bought a new position in Kennametal during the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in Kennametal during the first quarter valued at $39,000. Maverick Capital Ltd. bought a new stake in Kennametal in the fourth quarter worth $53,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Kennametal in the fourth quarter worth $83,000.

About Kennametal (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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