Kadant Inc. (NYSE:KAI – Get Free Report) VP Dara F. Mitchell sold 1,307 shares of Kadant stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $219.73, for a total value of $287,187.11. Following the sale, the vice president now owns 508 shares in the company, valued at $111,622.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Kadant Price Performance
KAI opened at $220.50 on Friday. Kadant Inc. has a 1 year low of $154.19 and a 1 year high of $229.90. The stock has a 50-day moving average price of $214.79 and a 200-day moving average price of $206.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.04 and a quick ratio of 1.22. The firm has a market cap of $2.58 billion, a PE ratio of 23.16 and a beta of 1.22.
Kadant (NYSE:KAI – Get Free Report) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.42. Kadant had a return on equity of 16.98% and a net margin of 11.96%. The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $231.14 million. During the same quarter in the previous year, the firm earned $2.24 EPS. Kadant’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts predict that Kadant Inc. will post 9.27 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Kadant
Analyst Upgrades and Downgrades
KAI has been the topic of several analyst reports. Barrington Research reissued an “outperform” rating and issued a $243.00 target price on shares of Kadant in a report on Friday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research report on Friday, July 7th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Kadant in a research report on Monday, May 8th. Finally, StockNews.com began coverage on Kadant in a research report on Thursday, August 17th. They issued a “buy” rating for the company.
Kadant Company Profile
Kadant Inc supplies technologies and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.
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